Interpreter Insurance
What is an interpreter and why is interpreter insurance important? An interpreter is hired by a client when they need to translate one language to another. Unlike a translator that converts one written language to another, an interpreter must convert speech instead. This oral translation can be simultaneous, so whilst the original speaker is talking, or consecutive after they have already spoken.
As large companies or news organisations often hire interpreters, it is essential to translate the information given to them accurately because any minor misinterpretation can change the tone of the speech or conversation and cost their client a lot of money and a bad reputation. Interpreter insurance helps to cover the costs associated with these claims.
If you would like to read more information or learn more about the pricing of business insurance, you can do so here.
Types of Interpreter Insurance
An interpreter may use a combination of different covers to achieve comprehensive insurance tailored to their specific business needs.
1. Professional indemnity insurance
Professional indemnity insurance is highly advantageous for an interpreter because it covers any slip-ups or blunders in the translation that could cost the client a lot of money whilst unintentional. Furthermore, any loss of documentation or slander may incline the client to sue the interpreter. Due to it, it may become necessary to hire legal aid regardless of whether the interpreter believes they were responsible for this accident.
For example, suppose an interpreter is hired at a business conference to translate the English spoken by the leaders into sign language. Still, the leaders speak too quickly for the interpreter’s ability. In that case, there may often be times where information is missed out, or there is a lag. If the clients felt like the service provided was substandard, they could file a claim and involve lawyers, requiring the interpreter to do so. Professional indemnity insurance reimburses the cost of this, protecting the company from financial loss.
2. Public liability insurance
Insurance companies incentivise public liability insurance because it protects a business when they are hit with claims that their services either injured a third party or damaged their possessions. For instance, an interpreter takes a lot of equipment with them if they are hired for an event with many people to be heard throughout the room, like consoles, transmitters or receivers; they may require a whole booth for this.
If they are present at this event, they forget to pack up the cables in a neat manner, and somebody at the events trips over them, they could sustain an injury like a sprain and require medical attention or treatment. Likewise, suppose the interpreter gets a drink at the interval and knocks into someone, getting liquid all over their phone. In that case, this could damage the personal property of a third person and so be obliged to pay a requisite fee for their actions. Public liability insurance would recompensate the interpreter for these costs.
3. Business equipment insurance
Business equipment insurance covers any tools that an interpreter may need to carry out their work efficiently and successfully. This specific profession could include things like a headset to hear what the speaker is saying, a microphone so that they can be heard during translation, and similarly speakers to aid this. As aforementioned, this equipment is necessary because, without it, the job cannot be done as successfully, and often clients expect an interpreter to have these tools already. Therefore, if stolen or damaged, this could hinder the usual operations, and business may decrease.
The majority of small companies could not afford to lose business. Hence, it is valuable to obtain insurance and have the insurer assist with paying these costs so that work can resume as usual as possible and no revenue would be lost. Generally, each insurance company usually offers business equipment insurance with the same policies, meaning that tools stolen or damaged in a fire or flood are covered. Unfortunately, the general deterioration of equipment usually is not.
4. Personal accident insurance
Personal accident insurance protects an interpreter if they are physically injured or sick and, as a result, cannot work. For an interpreter, the essential organ in their body is the larynx, or in other words, the voice box. If they sustained a massive injury due to an unforeseen event and, as a result, were on a lot of heavy medication, this could alter the voice and make it sound inaudible. In the same way, if this consequently made them tired and unable to stay awake, it would be impossible to attend work and also unprofessional as the quality of service would inevitably be subpar.
Personal accident insurance covers the lost income caused by this injury, and even though the employee may be unable to complete their jobs, they would still be paid a lump sum until they recover. The sum paid by the insurer depends on the policy’s coverage, but the different levels of cover can be chosen before obtaining the insurance.
5. Employers’ liability insurance
Employers’ liability insurance is necessary if a business hires employees, as stated by the Employers’ Liability Compulsory Insurance Act of 1969. If an interpreter cannot work due to an injury at home or anywhere outside of work, they are covered by personal accident insurance. However, if they were injured due to their job, employers’ liability insurance is the appropriate cover. Not only is loss of income included, but also compensation for evaluation and treatment.
For example, suppose an interpreter was continuously hired for events where the speakers were too loud and suffered from deterioration in their hearing after many years. In that case, they could have their medical expenses paid as this injury was sustained for work purposes. In the same way, if they were at a business dinner to translate Spanish spoken by the client to English for the company’s delegate and were assaulted at this restaurant, the job given was in an unsafe environment. So treatment would be provided by the insurer.
Interpreter Insurance
In conclusion, an interpreter may require insurance for some circumstances. Whether it was an accident caused by themselves, or someone else, the cover is of great help to help pay the costs in an already stressful situation.
Find out more about the importance of insurance here.
Other useful links about Business Insurance:
Churchill Business Insurance
Hiscox Business Insurance
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