As a professional consultant, your reputation and quality of work are vital to the success of your business.
A complaint or claim from a client who is unhappy with your service, needs to be dealt with quickly and efficiently. Reputational damage, financial compensation and legal bills are just some of the things you want to avoid.
Choosing the right cover for your business
PI Insurance is now considered essential for many consulting professionals. Clients are increasingly asking for external consultants to carry PI cover and provide evidence of this prior to awarding a contract. PI cover pays claims and offers additional support including defence costs and access to claims advisers.
Many consultants consider the following cover options:
Many consultants rely on their electronic devices (phones, tablets, laptops). Accidents happen and being unable to meet a deadline for a client due to a lost or stolen laptop could have costly implications for your business. We can protect your equipment at the office, at home or away from the office.
Our Public Liability coverage provides cover for damages and claims expenses due to third party injury or property damage, caused by you in the course of your work, or at your premises. Our insurer can also contribute towards court attendance and criminal defence costs.
If you employ any staff it is a legal requirement to hold Employers’ Liability insurance. Consultants may employ an assistant, or larger firms will employ additional consultants. EL protects you and your business against potential employment claims from staff.
Client data and client lists can be vital to your business. If you have built up a wealth of contacts, your network can be central to your consultancy business. Our response acts like an emergency service to help manage a data breach. If you accidentally leave a laptop on a train with sensitive data, our insurer will help manage the fall-out.
Directors of companies are obligated by their fiduciary duties and must act with honesty and integrity as a company director. Alleged or wrongful actions by a named director can include mis-reporting of accounts, HR and employment claims, reporting errors or tax investigations. Profile PI can arrange D&O cover to protect and defend individual directors from claims by employees, shareholders or regulators and authorities.
If your office is out of action due to a flood, public utilities disruption or you are denied access, it can have a big impact on your income and ability to meet client deadlines. BI insurance can provide your business cover for your lost income.
From time to time you may require the services of a lawyer for legal advice. Specialist legal advisers’ costs can quickly mount up. Legal Expenses cover can help with tax enquires, employment matters and regulation matters to name a few.
Our staff would love to create a bespoke package of cover and limits based on your business requirements specifically for you.