Business Consultants Professional Indemnity Insurance

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Business Consultants Professional Indemnity Insurance

Looking for cost effective consultants insurance? Speak to the BJP Insurance Brokers’ team today.

Why do business consultants need professional indemnity insurance?

Working as a consultant – be it as a business advisor, an IT expert, a security professional or anything in between, means that you offer professional advice and knowledge on a daily basis. But what would happen if a client alleges that your advice has caused them financial loss?

It’s likely that you’ll soon rack up significant legal costs defending yourself against the claim, even where it is subsequently disproven. In addition, where you are proven to have been at fault, you could find yourself having to make a significant pay out. Could your business survive having to pay a hefty award?

Professional indemnity insurance protects you from costs in just such circumstances, leaving you to get on with your work.

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Business consultants professional indemnity insurance

Bespoke insurance and risk management programmes for all sizes of business

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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.

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For independent advice and fast quotes for your business consultants professional indemnity insurance

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Why choose BJP Insurance to compare business consultants’ professional indemnity insurance?

BJP Insurance Brokers are a leading, independent insurance broker. Working with a range of UK insurance companies, our team can advise you on what covers you may need to have in place, and even recommend an appropriate policy.