If you're a management consultant, your words carry a lot of weight. Your insight and expertise can transform businesses completely. But your job isn't without its risks - businesses place a lot of trust in you when they take on your recommendations. And if this risk doesn't pay off, your clients could lose money, and they may turn around and blame you.
This is why it's vital that you familiarise yourself with your insurance requirements. Indeed, many businesses may refuse to even consider working with you unless you can prove you're fully covered. If you can provide your clients with a valid insurance certificate, they can rest assured that they'll be covered for any potential losses they might incur. A good insurance policy guarantees peace of mind for both you and your clients.
No matter how experienced you are as a management consultant, mistakes can happen. After following your advice, your clients could end up losing money, or even suffering reputational damage. This is why no management consultant should be without professional indemnity insurance. It will cover your legal costs for any claims made against you, and it can also provide your clients with financial compensation for any losses they may incur.
Your professional indemnity insurance can be tailored to suit your specific needs. Cover can include claims of negligence, dishonesty, defamation, libel and slander. We can even cover you for instances of intellectual property infringement and copyright breach. Depending on the size of your consultancy, claims could be made against an individual consultant, or against your directors and officers. In the case of the latter, we also offer directors & officers insurance.
It's worth protecting yourself against all possible eventualities. Would you be able to do your work without your computer or your smartphone? If not, office contents insurance can get you back up and running again should your equipment ever be lost, damaged or stolen. And of course, if you employ staff, you're required by UK law to get employer's liability insurance. Finally, public liability insurance will cover your legal expenses should you accidentally cause any damages or injuries while out and about.
Our professional indemnity for management consultants includes: