Contract failure cover
Get compensated for loss of earnings if your end client or agency doesn't meet the terms of your contract
What is it?
As many seasoned contractors will tell you, you can take all the right steps and precautions, and do some exceptional work, but if your end client or the agency you’re working through doesn’t hold up their end of the bargain, it could all be for nothing.
It’s a risk that many freelancers take by working for themselves on a project-by-project basis, but it isn’t a risk that they should have to bear the financial burden of.
As an IPSE Freelancer or Director member, if you find yourself in a situation where your end client or agency doesn’t meet the terms of the contract that is in place, you will be able to claim against the insurance cover provided as part of your membership, for up to £1,000 based on your day rate as per your current contract
Swipe to view
How does it work?
To be eligible to claim for this benefit, your client or agency must have breached the terms of your contract. For example, if your client were to terminate your contract (either before starting or during) without giving the proper notice as outlined in your contract with them, you could claim for the amount owed for that notice period. If they have terminated the contract but followed all the correct procedures from the contract, your claim will not be eligible.
To claim, fill out a straightforward claim form and send it to our membership team in an email with some additional evidence, then we’ll share it with the insurer . If your claim is approved, Qdos will settle the claim, up to £1,000 based on your day rate as per your current contract.
FAQ: What if I'm not on a day rate?
Of course, not all self-employed individuals charge a day rate. You may pay yourself a salary through your own company, or work on a project-by-project basis. If you're on a salary, we'll take your salary less any pension contributions and turn that into a day rate. If you're paid in a different way, such as per project, we'll look at your income for the last 8 weeks and calculate a day rate based on that.
“There’s quite a lot of resources, in terms of thinking about how you pitch your work, don’t get paid late or whatever it might be.”
"As an IPSE member I rest easy knowing that support is just a phone call away. It's an essential part of my business set-up!"
“I wish I’d known about IPSE when I first started as a freelancer because it would have really helped me make those difficult decisions.”
People who value this benefit usually go for...
Most suitable for you if
You provide your services or products as a sole trader or freelancer.
*minimum annual subscription
Benefits include:
- Tax and legal helplines
- IPSE Offers
- Unlimited co-working
- Business Hub
- Events, networking & training
- Member directory
- Campaigning
- Advice and guidance
- Discounted contract review
- 1-2-1 Success Sessions
- Illness and injury cover up to £1,500
- Jury service cover up to £2,500 per claim
- Tax & VAT investigation cover of legal fees up to £50k, £250 per day for loss of earnings up to £750
- Managed service company cover
- Contract failure cover up to £1,000
- Legal cover up to £50k
Most suitable for you if
You run your business as a Limited company.
*minimum annual subscription
Benefits include:
- Tax and legal helplines
- IPSE Offers
- Unlimited co-working
- Business Hub
- Events, networking & training
- Member directory
- Campaigning
- Advice and guidance
- Discounted contract review
- 1-2-1 Success Sessions
- Illness and injury cover up to £2,000
- Jury service cover up to £5,000 per claim
- Tax & VAT investigation cover of legal fees up to £100k, £500 per day for loss of earnings up to £1,500
- Managed service company cover
- Contract failure cover up to £1,000
- Tax pre-dispute cover
- End client or agency failure cover up to £10k for loss of earnings
- Legal cover up to £50k
The Association of Independent Professionals and the Self Employed Limited (“IPSE”) is an Appointed Representative of Qdos Broker and Underwriting Services Limited. Qdos Broker and Underwriting Services Limited is authorised and regulated by the Financial Conduct Authority. This can be checked on the Financial Services Register at www.register.fca.org.uk. Qdos Broker and Underwriting Services Limited is a limited company registered in England and Wales under No. 06012716 and with its registered office at: The Grange, Grange Avenue, Rearsby, Leicester, LE7 4FY. In order to maintain a quality service, we may record and/or monitor calls for quality assurance, training, security and regulatory purposes.
