Indemnity Insurance for Locums
What is Employers’ Indemnity Insurance?
Indemnity insurance is one of the main types of employer’s insurance. In the case of a locum vet or vet nurse, indemnity insurance protects you should a negligence claim be brought against you during or after a locum job placement.
Do I Need Indemnity Insurance?
We strongly recommend, that wherever possible, you obtain your own personal professional indemnity insurance. This works out at around 1-2 days’ locum fees per year.
Most practices have the facility to indemnify named personnel, depending on the reason for the cover. This can cover locums provided that the locum’s details are phoned through to the Insurer for the period of cover.
There are two potential shortfalls with the system and the current insurance structure.
- The locum is often replacing a current member of staff for a set period. When the locum becomes the named person, the original staff member is not fully covered. This could be a problem for the practice in the event that a claim of negligence is brought against the staff member on leave, while they are away, and the main cover has been switched to the locum.
- The second shortfall affects the locum should a claim of negligence be brought against him or her, after a locum has ended. The locum is no longer in the service of the practice and is no longer fully insured.
In both situations, the practice is relying on the goodwill of the insurance company and the extent of cover they will provide. Insurance companies are expressing more and more concern that they are underwriting the risk of two individuals for the price of a single premium.
Whenever you undertake a locum position, it is important that you confirm that you have insurance cover, or where necessary, it has been arranged for you by the practice.
While we have many years’ experience in recruitment, we are not financial or tax specialists and would always recommend seeking professional advice.
Putting in the work to establish yourself as a self-employed locum vet or veterinary nurse is time well invested. Our veterinary recruitment agency has worked with a number of new self-employed vets so if you have any questions, need any advice, or just need pointing in the right direction, then please contact us.