Protecting your business with translator professional indemnity cover
Shopping around for the right kind of insurance can be quite straightforward when you are looking for car or home cover, but when it comes to your business things can appear more complicated. Indemnity cover is a form of professional insurance which can protect consultants whose skills are hired by regular clients. Translators fall into this category as professionals providing a service on an expert basis, and as such could be vulnerable to legal action if they ever made a costly mistake. Translator professional indemnity cover is a straightforward cover product which could help protect you against such an incident.
Anyone familiar with the phrase ‘lost in translation’ knows how easy it is to misinterpret something even if you have the best training behind you. In a business environment an error could be costly, and may even result in legal action. This is why indemnity cover is something for translators to consider, even though it has traditionally been associated with people like architects and graphic artists.
Translator professional indemnity cover essentially pays your legal bills if you are ever on the wrong end of a legal action, i.e. being sued. This can happen if you ever make a mistake in your general work which leads to a client losing money, something which is often referred to as a financial injury. An indemnity policy will pay the cost of hiring legal help to defend your case and will even cover the cost of compensation, up to certain set limits.
The benefits of this are obvious as a legal wrangle can be a time consuming and expensive experience. For some smaller businesses it could also mean serious financial trouble quite quickly as legal help is rarely a cheap prospect. Indemnity cover also protects against a series of other legal risks, including breach of confidence or copyright. It also covers things like defamation, and even claims you have lost or damaged important documents or data which belongs to a client and was entrusted into your care.
A translator professional indemnity cover policy can also give you peace of mind after you have retired or wound down, giving you a run off period of protection. They can even be bought to cover against legal claims which arrive in the future but which date all the way back to before you even took out a policy.
Comments
Leave a Reply