Insurance for Management Consultants

Management consultants can benefit from both Professional Indemnity and Public Liability insurance.
Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public brings a claim against you due to their being injured or sustaining property damage as a result of your negligent business activities.
Professional Indemnity protects you against losses claimed by a third party due to alleged or actual negligence in your professional services or advice.

Sole traders and self-employed management consultants face many of the same risks as larger consultancies. They may also have fewer resources to help them manage unplanned costs, like compensations claims and lawsuits. Business insurance helps sole trader and self-employed management consultants pay claims, legal fees, and more so they aren’t left covering the bill themselves

Common business activities can put management consultants at risk of a cyberattack or data breach, such as:
• Storing client data on a laptop
• Using online tools
• Emailing or texting clients
• Having a business website and social media profiles
Cyber Liability insurance can help consultants manage many types of cybercrime (like cyberattacks, ransomware, and data breaches) by covering legal costs, data recovery, fines and penalties, and other expenses related to the cyber event.

Yes! A Business Insurance Package bundles Public Liability insurance with cover options for your business contents, equipment, and offices. Business Insurance Packages are customisable, so you can select only the cover that fits your business needs. Management consultants can choose from several types of cover, including Contents, Electronic Equipment, Business Interruption, Tax Audit, and more

It depends. Every management consultant is unique, and so are their Professional Indemnity requirements. The amount of cover you may need depends on factors such as the size of projects you accept, your annual turnover, industry requirements, and contractual obligations.
BizCover offers Professional Indemnity limits up to $10 million, so you can choose a level of cover that fits your needs.

Claims-made policies cover claims that are first made against your business during the policy period. They can cover incidents that occur after the policy’s retroactive date (the date from which you held uninterrupted insurance cover, even if you switched insurers, or the date from which the insurer agrees to cover you).

With BizCover, your certificate of currency is emailed to you immediately after payment. You can also download additional copies at any time by logging in to our customer portal.