Professional liability insurance as a product manager

[Keerthi]

I was denied insurance by Yezzer as I told them that I will be staring as a freelancer for Shell as a product manager. Are there insurance companies you would recommend and is the company I will work for important to declare in my insurance?

[Ron van der Kolk]

9 minuten geleden, Keerthi zei:

I was denied insurance by Yezzer

Yezzer is not an insurance company but an intermediary for multiple insurance companies. I find it hard to believe none of those would offer you a 

professional liability insurance as a product manager. On what grounds did they say they rejected your application?

 

15 minuten geleden, Keerthi zei:

Are there insurance companies you would recommend

No, as I would advise you to leave this to a professional. I can recommend an intermediary though, send me a PM. 

 

12 minuten geleden, Keerthi zei:

is the company I will work for important to declare in my insurance?

Not to my insurance company. 

[Norbert Bakker]

15 uur geleden, Keerthi zei:

and is the company I will work for important to declare in my insurance?

Most insurance companies will ask you  if you work for big corporates or companies listed on the stock exchange; and if so they want to know which one(s). Sometimes they also ask for a copy of your contract.

 

 

15 uur geleden, Keerthi zei:

Are there insurance companies you would recommend

 

AIG, HDI, Markel, Chubb, CNA, Zurich, Dupi.  As mentioned by Ron, what you need is another insurance broker because many of these insurers can not be approached direcyly  

 

Also, half of these usual suspects are already approached by Yezzer.  This makes the task for the second broker a lot more difficult.

 

 

 

[Maxn]

17 uur geleden, Keerthi zei:

Are there insurance companies you would recommend and is the company I will work for important to declare in my insurance?

 

17 uur geleden, Ron van der Kolk zei:

Not to my insurance company. 

 

Perhaps that could also be a layered question at some insurance companies?!

 

Do not remember mine asking about customer details either, but they did ask if I received more than 75% of income from a single customer.

Was not the case for me, but can imagine they may have follow up questions if you do only have one  big customer.

[Norbert Bakker]

1 uur terug, Maxn zei:

Perhaps that could also be a layered question at some insurance companies?!

It is a layered question at most (if not all) application forms today.

 

(In some pre priced proposals -like Hiscox- the question is not posed, but working for projects with a gross worth of over € 1.000.000,- (the total  budget,  not only your turnover!) and/or working for petrochemical, farmaceutical, aerospace, marine and automotive companies is excluded from coverage.)

 

The actual question in Dutch on the  application form is:

Quote

Verricht de onderneming werkzaamheden voor de overheid of andere organisaties van openbaar belang, zoals beursgenoteerde ondernemingen, banken, verzekeraars, pensioenfondsen, netbeheerders, woningbouwcorporaties en/of instellingen voor wetenschapsbeleid

 

If this question is answered by a yes, the usual follow up questions are:

• what % of the total turnover
• for what period 
• on what specific terms & conditions
• or, as mentioned before, a copy of the contract itself (NDA can by provided if needed)