ISA Introduces a New Benefit to Its Members Who Serve as Independent Contractors and Business Owners
As part of its ongoing commitment to continually enhance membership value and respond to the needs of all automation professionals, ISA now enables its members to purchase comprehensive professional/errors and omissions and general liability insurance through Lloyds of London at significant discounts to regular market rates.
This new benefit-which applies solely to ISA members who serve as independent contractors and operate as independent business owners-addresses a significant marketplace trend. Organizations that hire automation professionals as independent contractors are increasingly mandating that these contractors possess sufficient professional/errors and omissions and general liability insurance. And, until now, it’s been difficult for independent contractors in the automation field to afford adequate coverage as prices typically range between $3,000 and $8,000 per year.
Under this new program, ISA members can purchase this type of insurance between $1,600 and $2,400 a year, depending on the coverage option selected. Moreover, ISA members who hold current ISA certification, such as Certified Automation Professional® (CAP®) and Certified Control Systems Technician® (CCST®) status, can gain an additional 10 percent discount off the negotiated rate.
“ISA is very pleased to offer this new benefit as it gives our members who work as independent contractors and business owners the opportunity to obtain the coverage they need at much more affordable costs,” says Patrick Gouhin, ISA’s Executive Director & CEO. “The program also enables automation companies to ensure that their subcontractors gain the coverage they need.”
Underwritten by Lloyds of London, a global insurance market with a 325-year history and track record, the coverage includes contractual liability, cyber liability, pollution liability, and hired and non-owned auto liability, and is available for individuals as well as small corporations. AHM Insurance Group (an AssuredPartners Company) in St. Louis, Missouri, USA is the insurance broker selected to design the plan.
Three coverage plans are offered: a plan that offers only professional/errors and omissions coverage and two plans that include both professional/errors and omissions coverage and general liability insurance with different limits.
For more information on the plan, including a Q&A section, visit the insurance information page on the ISA website. However, to get specifics on coverage options, compare those options, and gain a quotation, you must be an ISA member (and submit your ISA username and password). Since only ISA members can qualify for this below-market-rate coverage plan, automation professionals who are not ISA members are encouraged to join the Society. Click here to select your desired membership option and initiate the application process.