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Archive for the ‘Indemnity Insurance’ Category

I am a software engineer in Australia, considering switching from permanent full-time work to full-time sub-contract work developing software. I’ve heard that people working for themselves in the building trade or in medical professions need to pay a stack of insurance. Would the same be true in software development? Would I even need professional Indemnity Insurance?

I have done sub-contract software development before, and I didn’t even know about any need for Insurance?!?!? Was I just lucky, or is there really no need for it in my industry?

Thanks

PS. I work at a senior level, doing quotes, business analysis, high level design and organising software teams. I would be working for just 1 company at a time, either the client or a personnel agency, with each contract position usually running from 3 months to 2 years. I wouldn’t have my own company, so the relationship is not much different from a casual employee relationship.

You only need it, if someone sues you over a project you were working on.

Of course, at that time, it’s too late to buy it.

Not having yoru own company means that YOU PERSONALLY are on the hook for all the legal fees, expenses, and judgements. It’s a WAY different relationship than an employer/employee relationship, as YOU are held responsible for the quality of your work – and any negative financial impact it may have on your clients.

My daughter is an EN at a aged care facility in South Australia which is owned by a church. Does she need private Indemnity Insurance if so where does she get it. Or is she covered by her employer.

I’m a healthcare practitioner in the US but I’m fairly certain the situation would be the same in Australia: Every healthcare practitioner needs to carry their own liability insurance regardless of the fact that their employer has its own liability Insurance, because if their employer/facility is successfully sued because of harm resulting from negligence or malpractice on your daughter’s part, then the employer/facility can turn around and sue your daughter for its losses. If she’s not insured then she will not only have to pay the amount but she will have to pay for her own legal representation and court costs.

Also, health care practitioners can be held liable for their actions outside of their employment facility–if, for example, if your daughter does volunteer work somewhere outside her employer’s facility, or even if she just casually, out of the goodness of her heart, gives free professional advice to a neighbor or friend that proves harmful to them. Ie., if you hold yourself out as an RN, then you are responsible for your actions as an RN. If she puts RN on her business card or letterhead, that’s proof that she’s held herself out as an RN.

The company that handles my professional Liability Insurance is CNA, based in Illinois. I have no idea if they have branches in Australia or not.

This page

http://interactive.web.Insurance.ca.gov/webuser/CAS_CMPL_CMPR_UTL.CMPLNTS_AND_COMPRSNS?p_eid=3263

will gave you complaint information for the company in California, which should give you some idea. Google "financial indemnity complaints" and see what else you can find.