What is liability and professional indemnity insurance for Business Consultants?*
Business Consultants require suitable liability and professional indemnity insurance that provides cover for professional indemnity and public liability risks related to providing advice to businesses.
For example, liability and professional indemnity insurance for Business Consultants and Business Analysts may include losses arising out of acts, errors and omissions and claims for damages from management consultancy services such business analysis, strategic advice, planning advice, business process and operation review.*
Why do Business Consultants need liability and professional indemnity insurance?*
Business Consultants need liability and professional indemnity insurance to cover for business risks such as incorrect advice, legal claims against you for the provision of business consultancy services and failure to perform essential processes and due diligence.
Suitable liability and professional indemnity insurance may provide Business Consultants with cover for the following claims:
- Breach of professional duty
- Defamation, libel or slander
- Unlawful discrimination
- Breach of the Australian Consumer Law under the Competition and Consumer Act, Fair Trading Act or similar legislation
- Infringement of any copyright, trademark, registered design or patent
- Breach of confidentiality
- Breach of privacy legislation
- Public Liability
- Products Liability
- Defence Costs and other costs and expenses
Note that Business Consultants can be held liable for the advice or the services they perform that may cause financial loss to a third party. As a result Business Consultants need professional indemnity insurance.
Furthermore, Public Liability insurance is a core cover for all Australian businesses - including for Business Consultants - to cover you against damage to a third person or their property.
If you are a Business Consultants looking for business and professional indemnity insurance please call 1300 542 573 to TALK to a SMART business insurance broker about a suitable policy at an affordable cost for your business.
What type of Business Consultants need business and professional indemnity insurance?*
All Business Consultants that charge a fee for advice or a service need business insurance and professional indemnity insurance.
For example, any Business Consultants performing the following services need business insurance and professional indemnity insurance.
- Management consultancy
- Business Analysts
- Business management strategy consulting
- Budget planning advice
- Communications consultancy and advice
- Strategic Business Planning
- Business process / operational reviews
- Change management advice
- Workflow Systems and Procedures
- Business Marketing advisory
- Human Resources / Organisational Structure & Staffing advice
- Supply Chain management
- Workplace Health and Safety consulting
- Workflow processes and procedures advice
- Organisational Development Consultancy
To talk to SMART business insurance broker about a suitable insurance policy for your business consultancy at an affordable price please contact us on 1300 542 573 or contact us online.
How much does Business Consultants professional indemnity insurance cost?*
For many self-employed Business Consultants a $1million professional indemnity insurance policy will start from $680.
Business Consultants business insurance cost: from $980 for $1 million professional indemnity PLUS $5 million public liability insurance.
Please note : pricing may vary significantly from the above based on your size, clients, experience and specific Business Consultants activities. Business Consultants working on large commercial clients and government typically represent greater risk; require greater limits and higher premiums.
For a business consultants professional indemnity and public liability insurance cost for your business TALK to a SMART Business Insurance broker on 1300 542 573.
How do I get a Business Consultants professional indemnity Insurance quote?*
Depending on the nature of your Business Consultants activities, the size of your projects, the size and type of clients you service and whether you are a sole trader, or employ staff or sub-contractors , different insurance companies and underwriters are likely to provide suitable and affordable cover.
For a suitable and affordable business and professional indemnity business consultants insurance quote TALK to a SMART Business Insurance broker on 1300 542 573 or contact us online.
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