Business consultants and professionals in the consulting industry can be involved in a variety of different areas with advice being provided in strategic management, occupational health and safety, mining and education. Any person who is providing advice for a fee should have some level of Professional Indemnity insurance in place. As a consultant, you need to be careful as giving the wrong or misleading advice can lead to legal action for damages against you. With all these exposures, having consulting insurance is very important so that your practice is protected now and into the future.
- Breach of confidentiality
- Fraud and dishonesty
- Conflicts of interest
- Misstatement or misinterpretation
- Resultant dissatisfaction from clients
- Lack of appropriate due diligence
- Dissatisfaction with the timeliness of advice /services