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Adam Walker
Member
Username: Adam_walker

Post Number: 70
Registered: 4-2007
Posted on Thursday, February 21, 2008 - 2:25 pm:   Edit PostPrint Post

Hello to all!

So I am close to opening a small business/office out here (as some of you may know - thank you for your help so far!).

My one and only exclusive client/funder has sent me contracts so we can begin business, and a stipulation is to have insurance that covers both the public and economic liabilities ie. something that will pay out should a worker hurt themselves due to the firms neglect, AND something that covers my firm for economic loss that results in them losing major revenue (ie. losing them a client worth US1-2mil each year).

I know there are budding entrepreneurs on the forum, has anyone done this? I know it is the industry norm, however I have no idea where to go to get such extensive cover...

Any help or suggestions are very welcomed!

Thanks

Adam
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Roberto
Board Administrator
Username: Admin

Post Number: 1538
Registered: 12-2004
Posted on Thursday, February 21, 2008 - 4:39 pm:   Edit PostPrint Post

Ok... there is a part I don't understand.

> something that covers my firm for economic loss that results in them losing major revenue...

If I understood correctly, your operation here fails and the paying client in origin leaves resulting in a loss for the people that owned that client and that have hired you here.

Can this be really insured? Isn't it this just normal risk of doing business? Could you explain in detail what type of work is being done before I make some calls?

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