Insurance for Training Providers – What Should Be Included and Why?

As a training provider, you’re relied upon by businesses to facilitate the means for employees to learn important new skills enabling them to do their job properly or to a higher standard. Whether you specialise in teaching soft skills or hard skills, there’s much responsibility that comes along with this important position.

The quality and effectiveness of your training and expertise has the potential to affect a business positively or negatively. It’s therefore absolutely vital to be protected should you run into any issues along the way.

The first step in ensuring you’re adequately covered while carrying out your job is to get a quality training providers’ insurance plan in place. When it comes to protecting your career and livelihood, don’t just settle for a limited blanket policy. Instead, opt for bespoke insurance from The Insurance Octopus featuring a strong foundation along with add-ons tailored specifically to your individual needs.

To help you understand what top-notch insurance for training providers actually entails, we’ve dissected some of the main elements and explained exactly how these would help when you’re faced with a number of unfortunate situations. Read on to find out more…

Dealing with mistakes and disagreements

No matter how great you are at your job, there are always going to be hiccups to deal with. Some will be easy to handle, while others could have legal implications. If you make an innocent mistake that results in training being delivered incorrectly or on a delayed timeline, a client could see fit to put in a claim against you for the likes of professional negligence or breach of contract.

In such instances, Professional Indemnity insurance for training providers would cover the legal expenses along with any trade losses incurred as a result of this claim. Even if you’re disputing an unfounded case, you’ll still need PI insurance to cover the legal costs of dealing with it. This kind of protection is also essential for handling claims against you for copyright infringement, loss of data and defamation.

Are you an employer?

If you run a company and have one or more employees, it’s a legal requirement that you have employers’ liability cover. Offering protection up to £10 million, a plan with The Insurance Octopus is designed to cover claims made against you from members of staff should they be injured or fall ill at work.

Skipping this essential element leaves you vulnerable to receiving hefty fines or even facing prosecution.

Coping after a personal injury

Have you thought about what would happen if you’re injured and unable to work? If you have an accident and are unable to work in the aftermath, personal accident insurance helps you get by and stay afloat financially so that you can concentrate on fully recovering.

There are so many situations that could result in a loss of earnings or inability to trade. If a disaster struck, business interruption insurance keeps your income afloat, covering loss of income among other things.

From freak weather such as flooding and high winds destroying your office premises through to a long-term illness leaving your business in jeopardy, having the right insurance enables you to deal with and carry on through those unforeseen circumstances. With this kind of cover in place, you’ll be prepared for whatever life throws at you.

Managing claims from members of the public

Public liability insurance is an integral part of a solid training providers’ insurance plan – especially as you and your employees are regularly going to be encountering members of the public. If somebody is injured or their belongings are damaged during one of your training seminars, you could end up facing a claim for compensation.

This is just a snapshot into the main factors that go into creating an insurance plan for training professionals. Various add-ons can be included to suit your situation. For example, if you work abroad sometimes, special cover for this would be required.

Get in touch with The Insurance Octopus today to find out more about a comprehensive Professional Indemnity plan and request a no-obligation quote.