Legal headaches eased with translator professional indemnity cover
When it comes to legal disputes, it is easy to assume it will never happen to your business, but depending on your line of work, facing a lawyer’s letter can be more likely than you might think. Although disputes are often sorted out amicably, some of them can end up with court hearings, and professional translators are in a group where a simple slip up can lead to a client losing money. Translator professional indemnity cover is a product which will pay for your legal defence in the event you face an unwanted claim, and it need not be an expensive asset.
In exchange for a premium, an insurance company will pay for your legal defence up to an agreed limit, and even cover the cost of any compensation which might be awarded against you. Being sued is arguably more likely in a world where people are increasingly aware of their legal rights. Companies who suffer what is known as a financial injury because of a consultant’s error maybe particularly minded to take action if they think they have a strong case.
This means a policy’s ability to protect you in the event of an error, omission, or accusation of an act of negligence in your work can be invaluable. Translators could simply mis-hear something in a business transaction, misinterpret it, and then face legal action, rightly or wrongly. The key to this kind of insurance is that it does not matter how valid the claim against you is, whether or not you receive a payout will not be based upon whether or not you really did make a mistake.
Besides mistakes in your work, translator professional indemnity cover also pays out if you face claims related to defamation. It will also cover you if you face a case that you have breached confidentiality or copyright, been accused of slander, or lost important data or documents belonging to a client of yours.
It can’t cover you in your private life, only in terms of what you do as part of your business. It can’t take away a legal claim, but can potentially save you thousands of pounds or more depending on the circumstances.
Translator professional indemnity cover also typically comes with a limit which you can set yourself, and you will need to decide what would be appropriate depending on the size of your business and your clients.
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