Running your own limited company means you are ‘in business on your own account’ and therefore, having adequate insurance in place is essential to ensure the supply chain is protected in the event of a claim. It also helps to support an outside IR35 status and demonstrate there could be financial risk.
It is an Astute contractual requirement (and a general standard of recruitment agencies) that you have the following insurances and limits in place:
Professional Indemnity £1m
Public Liability £5m
Employer’s Liability £10m
For more information, please refer to our ‘Insurances Required’ document.