REGULATIONS, STANDARDS & GOOD PRACTICE
As well as ensuring that you have considered the financial viability of your venture there are other measures that you should take when setting up an organisation or company to manage a broadband project.
◊ Ensure that you have all the necessary permissions in terms of landowners or local authority planning consent.
◊ Make sure that you have formal contracts with contractors, backhaul suppliers and customers.
◊ Take out the necessary public liability and professional indemnity insurances that will protect the members of your organisation from risk if something goes wrong.
You may need Professional indemnity insurance if you:
◊ regularly give advice to your clients
◊ handle data belonging to a client or business
◊ are responsible for a client’s intellectual property
◊ provide a professional service and could be challenged on your work. You may feel confident in the quality of your work, but any small business is vulnerable to a claim of negligence when professional advice or services fail to meet a client’s expectations and cause financial loss.
This insurance is available from most insurance brokers. It is always good practice to get several quotes for comparison.
