Insurance for Management
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Why do management consultants need insurance?
The role of a management consultant is full of responsibilities, an exciting profession that offers flexibility and freedom in return. One of the biggest challenges is managing the expectations of your clients is ensuring deadlines are met and that you continually deliver high-quality results.
Protecting your business with tailored management consultant professional liability insurance and general liability insurance has never been more important. BizInsure offers affordable insurance solutions to suit your management consultant business needs. Click or call us today to compare free quotes today.
Risks management consultants might face in their daily business
Managing the potential risks that you may encounter as a management consultant well before they arise is a smart business move. By having the right business insurance coverages in place, you can help protect your business from disaster.
A client could make a lawsuit against the professional delivery of your management consultancy work claiming:
- Professional negligence in the delivery of your work
- The work you provided was incomplete
- Providing incorrect advice
- Failure to perform your professional duties
- Mistakes were made
This is where your Professional Liability (Errors & Omissions insurance) insurance comes into play.
The other type of insurance which you need to consider is General Liability insurance. These are some of the associated risks it can provide protection from:
- Accidentally causing injury to a client. For example, you may have a client visiting your business premises and they accidentally trip and fall down the stairs breaking their ankle. General Liability insurance provides financial protection by covering any related legal or medical expenses.
- If accidental damage is caused to a client’s personal property. You may be out visiting a client at their office and accidentally spill a cup of coffee over their laptop. General Liability insurance will cover the expenses associated with repairing or replacing the property.