Business Consultants Professional Indemnity Insurance
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As a consultant, you know the value of expertise. Your clients trust you to guide them towards success through keen strategy and better business practices. But no matter how good you are at your job, mistakes can happen. If your client acts upon advice that you’ve given them, and ends up losing money or suffering reputational damage in the process, they could hold you responsible. So, it’s important to cover yourself against allegations of negligence.
Business Consultants Professional Indemnity Policy Highlights
Business Consultants professional indemnity insurance provides vital cover you need
Professional indemnity insurance covers the cost of defending your business against allegations of professional negligence (such as giving your client incorrect or wrongful advice) and any compensation or damages subsequently awarded against you.
Examples of claims include:
- You produce a report for a client on restructuring their operations to lower costs. The changes directly attributable to the recommendations you have made result in higher costs for the client and they take legal action against you for the poor advice.
- You produce a strategy report for a client in relation to growing their sales, but the tactics end up losing them business. They take legal action against you to recover the lost income.