IT Contractor Insurance - Professional Indemnity Insurance

Wed, 26 Aug 2009 09:07:08 +0100

IT Contractor Insurance - Professional Indemnity Insurance

IT Contractors are part of a growing workforce trend. All around the world, companies large & small are parcelling out work to independently employed IT Contractors. Why is IT Contracting growing at such an accelerated rate? The No.1 reason is that companies are doing whatever they can to reduce operating costs. Reducing the number of permanently employed staff & hiring IT Contractors to replace them is a large part of that strategy. Major UK companies like British Telecom, Lloyds Bank, Norwich Union & Glaxo Wellcome are all hiring IT contractors to perform work that was once done in-house.

For enterprising professionals, this trend spells tremendous opportunity, but beware. It's estimated that there are now some 400,000 IT Contractors working in the UK & as the industry grows, the potential for claims against those contractors providing the technology solutions grows accordingly. In today's highly litigious environment IT Contractors need to be comfortable that their true risk exposures are covered.

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IT Contractor Insurance - Professional Indemnity Insurance