US professional liability (E&O) insurance with worldwide coverage Autor vlákna: Mareike Kraatz, Dr. vet. med.
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Hello fellow linguists,
Does anyone of you know a US insurance company that provides professional liability (errors and omissions) insurance with a worldwide coverage? With "worlwide" I mean that the insurance covers a claim even if the claim has NOT been filed in the US, a US territory or Canada.
I currently have a potential client from Belgium that requires me to have E&O insurance, and in their consultancy agreement (which I would have to sign prior to our cooperatio... See more Hello fellow linguists,
Does anyone of you know a US insurance company that provides professional liability (errors and omissions) insurance with a worldwide coverage? With "worlwide" I mean that the insurance covers a claim even if the claim has NOT been filed in the US, a US territory or Canada.
I currently have a potential client from Belgium that requires me to have E&O insurance, and in their consultancy agreement (which I would have to sign prior to our cooperation) it says under "Governing law":
"All agreements with the Consultant are governed by Belgian law. Only the courts of the judicial district of the registered office of xxx (client's name) shall be competent."
I checked with both Hiscox (partner of Freelancers Union) and Hays Companies (partner of ATA), but their insurances cover only claims that are filed in the US, a US territory or Canada. Hiscox confirmed that their insurance would not cover a claim from this Belgian client.
Are there other options available, and if so which companies can you recommend?
Hoping for some advice. Kind regards
Mareike ▲ Collapse
| | | | liberfo
Itálie
Local time: 18:25
angličtina -> italština
| Try in Belgium... | Jan 8, 2015 |
Dear Mareike,
I believe in my h.opinion that if you want to solve the problem, you need an insurance of a local (Belgium) company. This is for the reason that the company cannot knows perfectly as requested the foreign country law (and prices to refund according with that market) and must have a lawyer or an insurance technician in that place, that may be very,very expensive.
In Europe, especially in Germany, we have a lot of insurance companies for such a type of risk, and general... See more Dear Mareike,
I believe in my h.opinion that if you want to solve the problem, you need an insurance of a local (Belgium) company. This is for the reason that the company cannot knows perfectly as requested the foreign country law (and prices to refund according with that market) and must have a lawyer or an insurance technician in that place, that may be very,very expensive.
In Europe, especially in Germany, we have a lot of insurance companies for such a type of risk, and generally (but it's better to ask) they gives a cover for all Europe, not depending who is the client and where is.
My best regards
Libero ▲ Collapse
| | | | | agree with liberfo | Jan 9, 2015 |
I am a US citizen living in Germany and my errors-and-ommissions insurance here covers claims from everywhere in the world except the US, presumably on account of perceptions (and probably also the reality) of litigation in the US.
I would contact Boss Assekuranz (partnered with the Bundesverband der Dolmetscher und Übersetzer) and explain your situation to them and ask them about a Vermögensschadenhaftpflichtversicherung and whether a Berufshaftpflichtversicherung is also relevan... See more I am a US citizen living in Germany and my errors-and-ommissions insurance here covers claims from everywhere in the world except the US, presumably on account of perceptions (and probably also the reality) of litigation in the US.
I would contact Boss Assekuranz (partnered with the Bundesverband der Dolmetscher und Übersetzer) and explain your situation to them and ask them about a Vermögensschadenhaftpflichtversicherung and whether a Berufshaftpflichtversicherung is also relevant for your work and/or the demands of this potential client.
Because of the language issues involved, that seems easier than going through a Belgian provider, but you could also probably find relevant insurers through Belgian translators' associations. ▲ Collapse
| | | | | Would prefer insurance from US company | Jan 9, 2015 |
Thank you, liberfo and Michael, for your advice. Since I live in the US and have a fair number of US clients, I would prefer to get insurance from a US company. Otherwise, potential claims from those clients would not be covered. In case I do not find a worldwide E&O here, I will probably pass on this potential client.
I am little surprised it is so hard to find such an insurance for translators, given the fact that translation is oftentimes an international business. But maybe you ... See more Thank you, liberfo and Michael, for your advice. Since I live in the US and have a fair number of US clients, I would prefer to get insurance from a US company. Otherwise, potential claims from those clients would not be covered. In case I do not find a worldwide E&O here, I will probably pass on this potential client.
I am little surprised it is so hard to find such an insurance for translators, given the fact that translation is oftentimes an international business. But maybe you have to buy two insurances... ▲ Collapse
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