Pages in topic: [1 2] > | Poll: A reasonable cost for errors and omissions, liability and personal property loss insurance: Thread poster: ProZ.com Staff
|
This forum topic is for the discussion of the poll question "A reasonable cost for errors and omissions, liability and personal property loss insurance:".
View the poll results »
| | | 100-200 per year | Feb 15, 2018 |
Unfortunately I was provided a quote of € 1100 (Italy) | | | Diarmuid Kennan Ireland Local time: 15:25 Member (2006) Danish to English + ...
Has anybody ever, in the history of freelance translation, ever had to make a claim on such a policy? I often ask this question when this subject comes up, but I have never heard of anyone with personal experience of such a claim. | | | 100 -200 per year | Feb 15, 2018 |
Would be max - but the insurance companies I have approached were either not interested or charged a lot more. BTW: Good point, Diarmuid, let's here! | |
|
|
I have a policy that covers a range of events | Feb 15, 2018 |
... Fire, computer crashes, theft and illness, besides E&O. So I think it is well worth having just for that. I am not sure of the exact terms now, but it used to cover claims for up to 10 million Danish Kroner. It was a group policy for members of the Danish Language Professionals Trade Union, which I have continued to take out personally with the insurers. I have heard of an agency who had to pay for a reprint of some publicity material, which can be quite expe... See more ... Fire, computer crashes, theft and illness, besides E&O. So I think it is well worth having just for that. I am not sure of the exact terms now, but it used to cover claims for up to 10 million Danish Kroner. It was a group policy for members of the Danish Language Professionals Trade Union, which I have continued to take out personally with the insurers. I have heard of an agency who had to pay for a reprint of some publicity material, which can be quite expensive, even if the error is technically trivial. I do not know whether the translator was insured, or whether the agency passed on the claim, but they changed their terms and conditions for working with freelancers. I have also heard of a wedding that had to be postponed because the translation of divorce papers contained an error, but I don't know any details, or whether claims were made. That too could be quite expensive if a big party and travel arrangements had to be cancelled. I agree claims are rare, but for somewhere between € 100 and € 200 a year, I like to know I am insured. ▲ Collapse | | | Error free translations vs. reasonable care | Feb 15, 2018 |
I had a few conversations with insurance companies about this and they told me that if I explicitly accept in a contract that my work will be error free, they will not provide insurance for this, because I undertook this more strict restriction on my own. They already did not tell me, but if on the other hand I only sign contracts that stipulate that I will complete my job with reasonable care or to high professional standards, this means that I can commit a few mistakes, and then I don't need a... See more I had a few conversations with insurance companies about this and they told me that if I explicitly accept in a contract that my work will be error free, they will not provide insurance for this, because I undertook this more strict restriction on my own. They already did not tell me, but if on the other hand I only sign contracts that stipulate that I will complete my job with reasonable care or to high professional standards, this means that I can commit a few mistakes, and then I don't need an additional insurance for this. As Christine mentions, indemnity insurances can still provide coverage for some additional issues, like data loss, but I think with appropriate safety measures these can be also handled safely without having a coverage. I am not entirely sure about this, but this is what I could gather. ▲ Collapse | | | neilmac Spain Local time: 16:25 Spanish to English + ...
I don't work with clients who try to foist things like this onto their providers. And, with my current portfolio of clients and the mutually flexible and proactive relationships we have, I don't think I'm likely to ever make any errors serious enough to warrant any such claims being made against me. I agree with Diarmuid's comment. However, having said that, I can envisage situations where some kind of insurance might be necessary for the translation service provider, but I just don't see ... See more I don't work with clients who try to foist things like this onto their providers. And, with my current portfolio of clients and the mutually flexible and proactive relationships we have, I don't think I'm likely to ever make any errors serious enough to warrant any such claims being made against me. I agree with Diarmuid's comment. However, having said that, I can envisage situations where some kind of insurance might be necessary for the translation service provider, but I just don't see myself as being in that situation, at least not right now. In general, insurance policies always seem rather expensive to me. ▲ Collapse | | | Sheila Wilson Spain Local time: 15:25 Member (2007) English + ... How likely is it to pay out? | Feb 15, 2018 |
Check the terms VERY carefully. The one I had for several years only covered me for clients based in my country, France. I only found out when I moved to Spain, after I'd been working with clients based in many different countries. I seriously doubt whether it would be worth a client's time and money to sue a private individual. Maybe some of you are rich. but most st of my money is tied up in a house, owned jointly w... See more Check the terms VERY carefully. The one I had for several years only covered me for clients based in my country, France. I only found out when I moved to Spain, after I'd been working with clients based in many different countries. I seriously doubt whether it would be worth a client's time and money to sue a private individual. Maybe some of you are rich. but most st of my money is tied up in a house, owned jointly with my husband. I really don't think it would be worth it to them. But of course if I had insurance then they'd be quick to try to pass any loss onto me. I've decided it isn't worth it. ▲ Collapse | |
|
|
A reasonable cost would be €100-200 per year, but 1. In over 40 years, I have never heard of anyone with personal experience of such a claim. 2. I have a good relationship with all my customers and my strategy has been that every time a problem comes up I deal with it promptly. 3. I know that some companies offer these policies to doctors and lawyers but I wonder if the price will be within that range… | | | | Félicien Sirois United States Local time: 09:25 Member Italian to English + ... Possibly pharma or medical translators | Feb 15, 2018 |
Chris S wrote: I don't make mistaks. Thanks Chris, that made my morning. I think a lot of it comes down to your client base. If you work for agencies exclusively, then at least there is a buffer, especially if the work does not involve subject matter that could reasonably end up in a major casualty if mistranslated. If, on the other hand, you work heavily with direct clients and/or (for example) in the medical or pharmaceutical fields or even in the automotive/transportation industry, then it might be advisable to find an E&O policy with suitable coverage.
[Edited at 2018-02-15 13:09 GMT] | | | EvaVer (X) Local time: 16:25 Czech to French + ... Something similar | Feb 15, 2018 |
Gianluca Marras wrote: Unfortunately I was provided a quote of € 1100 (Italy) in the Czech Republic - at the time I attempted to take out such insurance, the policies were tailored to industrial companies. I don't bother any more, close to retirement. | |
|
|
Best-efforts obligation | Feb 15, 2018 |
I think that covers what we do, and 0.00 is very reasonable. | | | Daniel Frisano Italy Local time: 16:25 Member (2008) English to Italian + ...
Diarmuid Kennan wrote: Has anybody ever, in the history of freelance translation, ever had to make a claim on such a policy? I often ask this question when this subject comes up, but I have never heard of anyone with personal experience of such a claim. Truer word was never spoken. I wonder if I am too old to start a career in insurance.
[Edited at 2018-02-16 00:58 GMT] | | | Mario Freitas Brazil Local time: 11:25 Member (2014) English to Portuguese + ... 30 years of insurance? | Feb 16, 2018 |
I've been working as a translator for 30 years, and I never had an issue that could be a claim for an insurance policy. If you calculate 30 years times the yearly cost of this insurance, the money I saved so far is way above any potential liability I may be subect to. | | | Pages in topic: [1 2] > | To report site rules violations or get help, contact a site moderator: You can also contact site staff by submitting a support request » Poll: A reasonable cost for errors and omissions, liability and personal property loss insurance: CafeTran Espresso | You've never met a CAT tool this clever!
Translate faster & easier, using a sophisticated CAT tool built by a translator / developer.
Accept jobs from clients who use Trados, MemoQ, Wordfast & major CAT tools.
Download and start using CafeTran Espresso -- for free
Buy now! » |
| Wordfast Pro | Translation Memory Software for Any Platform
Exclusive discount for ProZ.com users!
Save over 13% when purchasing Wordfast Pro through ProZ.com. Wordfast is the world's #1 provider of platform-independent Translation Memory software. Consistently ranked the most user-friendly and highest value
Buy now! » |
|
| | | | X Sign in to your ProZ.com account... | | | | | |