Consultant insurance

Hiscox

Professional liability insurance for consultants

Analysis, strategy and planning. You’re hired to improve your client’s business.

So if things don’t go to plan, they’ll expect you to solve the problem. Or compensate them if you can’t.

Negligence claims can be costly. And put your reputation, as well as your assets on the line.

Luckily, you don’t have to search for a solution.

Professional liability insurance is your problem solved.

  • Why do I need professional liability insurance for consultants?

    Because being a consultant makes you a professional. Which means you’re at risk of professional negligence suits. Whether you’re at fault, or not.

    And because you’re an independent consultant. You don’t have the big bucks of a corporate behind you. So the cost of defending your reputation is down to you.

    Unless you’ve got the right coverage.

    Professional liability insurance for consultants (also known as errors and omissions, or E&O) protects you from negligence suits.

    If a client claims you made a mistake and it’s cost them, even if the claim’s groundless, you’ll get an attorney to defend you. Your legal fees will be paid. And compensation, too, if you’re liable.

  • What does professional liability insurance cover?

    • Errors and omissions – even if you’re not at fault
    • Claims made against you – including work you’ve done in the past
    • Claims made worldwide – so long as they’re filed in the US, one of its territories, or Canada
    • Your defense costs – including hiring you an attorney and compensation, if you’re liable.
  • What other kinds of insurance do consultants need?

    General liability – if you visit clients, or they come to you, general liability insurance protects your consultancy business from bodily and personal injury claims by a third party. And damage to their property.

    Business personal property – covers your cell and other mobile devices you take with you to client meetings. It also protects all the moveable items in your office. From your servers to your staplers.

    Cyber liability – if you’ve been hacked, it takes care of your recovery costs. Including restoring your data and systems, pr to restore your reputation, regulatory fines and legal costs, if clients sue.

    Workers’ compensation – required in most states the minute you hire your first employee, it protects your business from the cost of workplace injuries. It can cover medical bills, replace wages and legal fees if you get sued.

    There’s more on what kind of insurance consultants need on our blog. But because every consultancy’s different, it means your insurance requirements are, too.

    That’s a problem we’re happy to solve for you. We can customize coverage to suit your exact needs. In minutes.

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