Consultancy Insurance
Specialist insurance and advice for Consultants
Working as a Consultant, even with years of experience, advising clients does not always go as planned. Whether it is an error in a project for a client, or advice that results in a financial loss, this can result in putting your business at risk, reputationally and financially. This is where Consultant’s insurance, in the form of Professional Indemnity particularly, can protect you.
We at SJL have provided Consultant Insurance and Professional Indemnity to thousands of consultancy businesses over the last 20 years, ensuring they are protected. This is whether things go wrong in your advice or service, injury to a third party, or theft or damage to a laptop. We understand the risks these businesses are exposed to, and can provide the advice and protection needed to ensure the business can keep operating and growing even when the worst should happen.
- Extensive market reach and knowledge, ensuring each policy is individually tailored
- Experts in the Professional Services sector, offering a fully advised service to all clients
- Award Winning In-House Claims Team
- Lloyds of London Commercial Broker
- Independent Broker Since 2001
Available Consultants Insurance Covers
Cover for financial loss to third parties.
Legally required cover for any staff working for you, either on a permanent or part time basis.
Cover for third party injury or damage
Protection for the property that your business resides in
Protection for the contents inside your business
Providing protection against personally liable allegations
Cover for income lost following a claim
Cover for your cyber activities
Cover for any expenses during legal battles
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This provides cover to Consultancy agencies related to negligence or mistakes made resulting in a potential financial loss. This is particularly important for Consultancy agencies as they will often be giving advice to clients?
Employers liability insurance is designed to cover you in the eventuality that your employees are injured at work, so you can protect your business.
Public liability covers third-party injuries or property damage related to your business activities, while product liability protects against harm caused by your products. Together, they act as a vital safety net, shielding you from financial burdens and ensuring peace of mind in the face of unexpected accidents or product-related issues.
Cover for the property that your agency operates out of. this includes damage to the property through issues such as storm, flood, fire and escape of water.
Contents Insurance covers the items and inventory based in your business from damage or theft.
As a Director, Manager, Partner or Supervisor, you are responsible for making big decisions within your company. Some of these decisions may produce a negative result which can result in actual or alleged claims of “wrongful acts”.
The cost implications for any allegations made can be significant, even for simple investigations. Directors and Officers Insurance (or D&O insurance) provides financial protection should any claims require investigation, defence or legal representative.
Also known as BI Insurance or Business Income Insurance, it offers cover to businesses should something happen to their property, meaning that they cannot trade as normal, and therefore end up in an adverse financial position.
Unlike insurance for the property itself, Business Interruption Insurance helps to cover your fixed costs and loss in profits when your company is unable to trade at 100% capacity.
It allows your business to maintain the same financial position it would have been in should the accident not have happened.
A Cyber insurance policy helps to cover your business to mitigate any losses, and cover the costs should cyber criminals strike – from fraudulent transfers, to data loss and social engineering.
Cover for legal costs during legal battles you may face
We can insure any type of business, and our expertise ranges from property and commercial risks, to kidnap and ransom. Literally any type of business, in any sector, anywhere in the world.
Our expert brokers have access to a huge array of insurance products ensuring they can find the best insurance policy for you. They get to know your individual needs and provide the best possible insurance solution for you. You will be provided with an allocated account and claims manager.
Our featured list of Policies can be found on our services page.
Do I need Consultants Insurance?
The short answer is absolutely! There are a wide range of risks that Consultants insurance can protect against, and each can have a huge effect on the ability of a business to trade successfully. Having the correct Consultants Insurance in place can not only protect the business and its staff, but also provide confidence to clients and suppliers alike, enabling your business to grow and develop.
Why choose SJL Insurance Services for Consultants Insurance?
SJL Insurance have been arranging insurance for Consultancy businesses for 20 years. With a wealth of experience in Consultancy Insurance, and the markets that support it, our experts can offer the advice and service your business needs, at a competitive premium.
As part of our fully advised service to our clients, we offer in depth risk assessments, full market analysis and policy development and management throughout the year.
Are Consultants Insurance policies legally required?
The majority of covers offered under a Consultancy insurance policy are not legally required, with the exception being Employers Liability – if you employ staff of any nature, this cover is legally required.
Although the law doesn’t require you to cover the other aspects of your business, our experts highly advise it. Covers such as Professional Indemnity can often be contractually stipulated by clients, meaning if you don’t have this cover it can result in the loss of income, as well as increased risk.
Who should take out Consultants Insurance?
If you are involved in the Consultancy sector, then this insurance is essential to protect your business and allow you to keep trading should a client make a claim for professional negligence (amongst other things!).
How much does Consultants Insurance cost?
Every Consultancy business is different, from the size and turnover, to the businesses and clients you work with, and the scope of the advice and services you provide. This means that every Consultants Insurance policy is bespoke to each client, and each premium different. We will use our expertise and market connections to find the best and most competitive option available for you.
What are the biggest risks to insure against?
Consultants need to be covered for a range of sector specific risk, such as:
- Professional Negligence – a mistake or poor advice to a client
- Breach of copyright or confidence – sharing content or imagery without permission
- Defamation – making false or damaging claims about an organization or person
What type of Consultancy businesses can you offer Consultants insurance to?
At SJL we work with Consultancy businesses of all shapes and sizes, from Management and Strategy consulting, to IT and Sales consultancy, and everything in between. With our knowledge of markets and the consultancy industry, you can rest assured we will be able to help.
and have peace of mind knowing that you're protected.
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