All about the mitigation costs clause
Update: 2020-07-20
Description
- With Jack
- The mitigation costs clause is one of the most used features of the professional indemnity policy
- If your client isn’t happy with the work you’ve delivered, refuses to pay your invoice and accompanies that refusal with a threat, the insurer will pay you the money owed to you
- Usually claims arise due to other factors, but if the client is threatening to make a claim then there’s a high probability they’re not going to want to pay the freelancer. This is why the mitigation costs clause is such a useful feature
- There is cover for unpaid invoices under the legal expenses product, where a solicitor chases overdue invoices on your behalf, but that’s a separate product. The mitigation costs clause in the professional indemnity policy will only spring into action if the refusal to pay is accompanied with a potential claim
Comments
In Channel
Download from Google Play
Download from App Store
United States00:00
00:00
x
