What is included on a business consultants’ insurance policy?
Working as a consultant, there are a range of considerations to be made when it comes to choosing the right insurance. You can buy a number of individual covers, or choose to buy a package insurance which will include a range of covers to deal with every aspect of your business.
PI cover for consultants protects you in a range of circumstances. It could be that, outside of being accused of providing wrongful advice, you find yourself facing other problems:
Infringement of intellectual property – for example, if you were a marketing consultant and used an image on their website without the correct IP rights.
Breach of confidence – You may have a Non Disclosure Agreement in place and the client alleges that you have shared information about the business that was deemed confidential.
Subcontractor cover – where work carried out by a subcontractor to you is deemed to be your responsibility.
Other aspects of cover may be accommodated within your PI policy. Outside of PI, you may require a range of other covers to protect your consultancy business – for example public and employers liability as well as office and contents cover. These could be arranged alongside your PI cover as part of a combined policy.