Business Management Consultant Insurance

As a management consultant you are employed by your clients primarily for your advice and business guidance and planning. Management insurance will respond to provide cover if a claim of alleged negligence in your work is made against you by your client.

A couple of examples could include:

• You produce a strategic plan to grow your clients’ sales. However, the tactics used in your plan result in your client losing sales instead. As a result your client takes action against you to recover their losses.
• You produce a plan to help your client reduce their costs, but the recommendations that you make result in higher operating costs. Your client takes legal action against you alleging that you provided poor advice.

With Caunce O’Hara’s intuitive online quote and buy system you can get an indicative quotation for your IT Contractor insurance in a matter of minutes.

Management consultant professional indemnity insurance can start from as little as £98.00 per annum. An example quote: a Business Consultant with an annual turnover of up to £75,000 per annum, with £500,000 indemnity limit in any one claim, would pay £228.00 per annum for professional indemnity insurance. That’s only  £19.00 a month, which we think is great value considering the cover and peace of mind that you benefit from (Figure correct as of 08.11.2021).

Apart from Professional Indemnity insurance, business consultants will likely be asked to ensure they carry Public Liability insurance as part of their contractual obligations.

It is important to be aware that as a self-employed business owner, a claim can be made against you personally with unlimited personal liability, therefore Directors and Officers insurance is a valuable insurance policy which will cover you in this instance.

Legal Expenses insurance will also provide cover for costs incurred from a legal occurrence or claim that your indemnity and liability insurance does not cover, including the costs incurred from an IR35 tax investigation.