I wonder if somebody could help me with a good piece of advice. I am a locum pharmacist registered with PDA. I have also registered myself as a Limited Company, following my financial adviser suggestion. When I opened a new bank account as a limited company, the businees manager of the bank suggested that I should have a business insurance and obviously suggested his own (as he works on comission). Can anybody tell me if this is absolutely compulsury or necessary? as I thought I have public liabily under PDA insurance and I thought that's all I needed.
I am new to this website and your hel is very much appreciated. I hope to make good contacts in here.
Oh, the bank will suggest all sorts of 'helpful' ideas to divest you of your hard earned money. They are so good with money, that's why we had to bail them out!
When I started locums, the 'helpful' bank opened an account for me and then the charges started. I needed a short term loan 'Oh an arrangement fee, insurance is required on top of interest'. A charge for every cheque deposited.
I looked around and opened a business account with Nationwide. No charges and they paid interest. Still run the account today with no problems. They state really looking for deposits of spare cash, but I run it as a current account without any problems at all.
johnep
someone closed this thread, possibly by accident?
Obviously the people to ask about this are the PDA: they have a helpline.
I suspect you don't need business insurance unless, of course, you are claiming for a home office, secretary, cleaner etc etc. In which case, an extension to your house insurance might be the best way of doing it. The important word is MIGHT. AQsk the PDA, you won't be the first.
Thank you very much for the comments, but I still do not know whether I must have business insurance (as a limited company) or not. I have contacted the PDA regarding this matter and they said the cannot help me in this matter, as it is a business thing.
thank you very much for your advice. I phoned the PDA and unfortunatelly they said the cannot help me on this matter and it is a business thing, so I still do not know what to do. I as just wondering if there any locums out there who are as well limited companies, do they have business insurance?
So what will this wonderful insurance cover? Will it provide if you cannot do locums for some reason? (P&G are the best).
Will it cover premises? Household insurance will do this unless you have a four storey building of palatial offices.
Let them tell you what it will cover, put on here and we will see.
'Love is all you need'. PDA is all you need.
johnep
As far as i know , the single or family (husband/wife) owned company doesn't need any business insurance.The best thing is to confirm with the business helpline for small companies.
Hi, Business Insurance will all depend on what you want covered if you are the sole Director of the company and no-one else is registered to the company you may not need Employers Liability. Public Liability although may not be a legal requirement you may want to protect your business against injury to 3rd parties or damage to 3rd party property. I have been working in the industry for some time and would happy to assist further just let me know. Hope to speak to you in the future
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