Insuring your consulting business
As a specialist business or management consultant, you’re no stranger to pressure. Your clients rely on you to get things right time and again, and they want consistent results. Because of the nature of consulting, it can often feel like there's no room at all for error. But unfortunately mistakes happen and disagreements occur, whether they’re justified or not. We’ll tailor your package to the specific risks you face, so you know you’re covered for the unexpected.
Why you need business insurance in consulting
Unhappy clients
Despite your best efforts, things don’t always pan out the way you expect. You or someone you employ could misinterpret a project, give incorrect advice, or accidentally share some confidential information. If a client decides to bring a claim against you, we’ll be there to cover the legal and compensation costs, whether you’re at fault or not.
Data risks
No business is immune to the threat of cyber crime. Hackers may target you and threaten to release sensitive data about you or your clients unless you pay up. Or they may block you from accessing your own computer systems, meaning missed appointments and angry clients. We’ll provide you with complete cover for such events, as well as access to our team of cybercrime experts.
Accidents and injuries
A client could trip on a loose wire and injure themselves on your premises, or you could spill a drink over their high-spec laptop while you’re visiting their offices. Either way, a public liability claim might be the result. We’ll cover the legal and compensation costs of settling or fighting it, so you can get things back up and running again with minimal disruption.
If you’re not sure what you need, tell us a little more about your consulting business. We’ll help you to build your quote and explore any other insurance needs.
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Key types of insurance for the consulting industry
Professional indemnity insurance
Professional indemnity insurance is there to protect you, or anyone working for your business if you’re accused of making a mistake in your professional services. If someone accuses you of negligence, you may well disagree strongly, but whoever’s at fault, you need to be able to defend yourself. Professional indemnity cover will support you with the legal and compensation costs of dealing with a client’s claim against you.
Cyber and data insurance
Cyber and data insurance protects you against the threat of cyber crime and data breaches. Data breaches can happen quickly and easily, but they’re expensive and they can cost you your reputation as well as the financial hit. Whether it’s someone accidentally sharing confidential data with the wrong recipients or you suffer a deliberate cyber attack with your data held to ransom, we’ll be there to cover the cost and offer expert advice and support to get you up and running again.
Public liability insurance
Public liability insurance is important for any business that involves face-to-face contact with clients and members of the public. If someone brings a claim against you because they’ve been injured or fallen ill during a visit, or their property has been damaged and they believe it’s down to you, your employees or your products and services, you might face legal action. Whether it’s your fault or not, with Hiscox public liability insurance, we’ve got you covered. Both public liability and product liability insurance will help you with the costs of compensation and the legal expenses of the claims process.
These are just some of the types of business insurance for consultants that we can offer. We can provide other specific types of cover and build them into a policy that’s tailored to the exact needs of your business.
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