From ComputerWorld, Ted Devine offers four recommendations for things that independent contractors must have to mitigate their risks including a written contract and having liability insurance. He writes:
Contracts and communication can help you avoid lawsuits, but additional steps can protect your business further:
- Keep records on every project.
- Document the business relationship.
- Say no when projects don’t fit your skills.
- Invest in professional development.
- Purchase liability insurance.
None of this guarantees you won’t be sued, but taking these steps can minimize your risk that a suit will wipe out your finances.
Read the full story at 4 risk management must-haves for independent contractors