Management Consultants Insurance
What Is Management Consultants Insurance?
From finance, HR and marketing through to charities and healthcare, we know that your consultancy expertise is sought-after by various industries looking to improve their efficiency and growth. Making recommendations and guiding their approach, you not only set up companies for success but may unfortunately see failure too. Even the best management consultants have to deal with external forces, false data and incorrect advice from experts, not to mention unexpected cutbacks to staff and budgets. And though this may not be your fault, the businesses you work for may see it differently. That’s where we come in. Here at The Insurance Octopus, we have a range of management consultants insurance policies that will keep you protected from the aforementioned issues, along with other potential liabilities. With access to the best insurance deals around, as well as a supportive insurance team who understand your requirements, you can’t go wrong. What’s more, should you ever want to expand on or update your policy, we won’t charge administration fees for mid-term adjustments.
Let’s get your business covered. For your management consultants insurance quote, please fill in our helpful form or request a call back today.
What could management consultants insurance cover?
Professional Indemnity Insurance For Management Consultants
Don’t let your talent be tainted. Should the businesses you work for suffer a loss due to your guidance and consultancy, we can cover these losses with up to £10m worth of protection.
This will cover you in the event of a cyber attack, hack or breach – plus the associated financial and reputational damages. We’ll investigate what happened, restore lost files and ensure all expenses are paid.
Portable Equipment Insurance
Should your work phones, laptops or associated equipment be lost, stolen or damaged, this solution keeps you covered, ensuring you meet deadlines and create great work.
Personal Accident Insurance
Serious illness or injury could mean you’re out of action for a while, and could therefore result in lost contracts and work. We’ll cover recovery and any loss of income, ensuring your standard of life is maintained.
What is management consultant insurance?
Cover designed with consultants in mind
As a professional management consultant your role will require you to help your clients solve various business issues, from improving business performance through improved effectiveness and efficiencies to helping business reduce costs where necessary. The role you do is varied and will require specialised insurance cover to truly offer the level of protection you’ll need. You will be offering professional, sound and expert service to your clients, making recommendations for businesses who will then rely on your advice. Our management consultant insurance includes professional indemnity cover as standard, helping to protect you should a client make a claim against you for your advice, should they believe this advice to be incorrect leading them suffer some form of financial damage.
We can put together a bespoke policy that will focus around what your business does and needs when it comes to insurance. Our personalised business insurance policies are designed to allow you to add, remove, increase or decrease all areas of your insurance policy meaning that you’ll have all of the essential cover you’ll need in one business insurance policy.
What your management consultant insurance policy includes
Professional Indemnity cover for management consultants
Professional Indemnity insurance, or PI insurance, will protect you and/or your business against any financial or trading loss that may be caused as a result of bad advice or a mistake made in work. Professional Indemnity cover limits from £50,000 to £10m.
Employers Liability insurance cover
Employers Liability insurance cover is required by law if you have one or more employees. Standard Employers Liability cover is £10m and will protect you as the employer against claims from your staff should they be hurt when working for you.
Public Liability insurance
Public Liability cover protects you if a customers or a member of the public is injured or their property is damaged, and protects you against the cost of repairs or any legal proceedings that could be filed against you. Standard levels of cover are available from £1m to £5m, with additional levels of cover available upon request and subject to insurer’s terms and conditions.
Legal expenses cover
Protect your management consulting business against the costs of defending claims with legal expenses insurance.
Associated Claims Costs
Associated Claims Costs can cover you if a claim needs to be investigated further or there is a need for bringing in expert witnesses in a court hearing; essentially any additional costs associated with a claim.
Add on covers:
Business interruption, personal accident, off shore working and more are all additional add-ons that can be increased or decreased as required. By having flexibility with your professional indemnity business insurance policy from The Insurance Octopus, you can make sure your insurance is just what you will need.
Why you need management consultants insurance
It’s important to have the right insurance package at the right cost for your business. The Insurance Octopus will help you to put together a business insurance package specifically tailored to your business needs by working with a selection of UK insurers providing the widest choice of PI insurance.
Proving protection for a wide range of consultants and professionals throughout the UK
We are PI Insurance brokers
We cover a variety of trades and occupations, and are experts in providing Professional Indemnity Insurance which means you will get a bespoke policy that ensures you only pay for the cover you need. We can add cover for your business equipment at home, in the office or in transit and provide options for covering you in sector specific situations as required.
Get your cover the same day
In most cases, we can provide you with your business insurance and documents on the same day (subject to time of day restrictions), offering a range of flexible payment options, including Direct Debit. Get in touch with us today for more information.
Why choose The Insurance Octopus?
We proudly make buying insurance different and our cover comes with a range of benefits.
Up to £5 million of cover
Claims can be expensive, that’s why we offer up to £5 million worth of public liability cover. With more available upon request.
Fast specific cover
To help save you both time and money. We compare prices from a range of different insurers so you don’t have to.
An expert who knows your industry
We’ll connect you with an agent who is an expert in your field. They understand many of the challenges you face, and can truly get to grips with the type of cover you need.
Easy claims process
Accidents can happen, so when something does go wrong you can rest easy knowing our team is on hand to make the claims process as quick and stress free as possible.
No mid term fees, ever
We don’t charge any mid-term fees at all during the life of your policy – so there are no hidden fees following any changes you might need to make.
How insurance for management consultants works
Examples of Management consultant insurance in action
A case of poor consultancy
A genuine oversight nearly led to disaster for the career and job security of a management consultant. Working with a client in Scotland for the first time, she rang up her usual lawyer for a little bit of legal advice. Unfortunately, it transpired that the legal situation in Scotland was different from England and as she had not advised the lawyer of this fact, she was liable for the significant costs that the client encountered as a result. Much to her relief, she discovered that the professional indemnity insurance that she had held for years extended to legal advice given by her and was there to cover the significant costs of the action that she faced.
Types of professionals we can cover
Get Business Insurance off your to do list
Help protect and grow your business with tailor made business insurance from The Insurance Octopus
Insurance Know How Making business insurance easier to understand
The ultimate small business checklist to help protect against cyber threats
Cyber threats are heard about more and more in the news with many attacks affecting larger businesses. However...
The top 10 Cyber Insurance claim types
Cyber insurance claims are becoming more and more common with each passing year. As business grows more depend...
How much does cyber insurance cost?
Cyber insurance, which covers your business against the effects of a serious cyber incident, is not an “off ...
Get to grips with Under-insurance & The Insurance Act
Inadequate cover presents a great risk to businesses – help ensure your cover is more than adequate by u...
Business Insurance Blog For all the things business & insurance
6 common customer frustrations and ways to overcome them
Whatever your industry, businesses deal with clients and customers all the ...
The Essential Guide To Opening A New Cafe
It is estimated that globally, we drink approximately 2.5 billion cups of c...
20 Top Tips For Marketing Your Business Online
As technology has developed and the internet has risen in prominence, onlin...