Consultants that Hiscox covers
IT consultants
Advising businesses on their IT systems can be both rewarding and challenging. Guidance can be misinterpreted, accidents can happen, bugs can undo hard work and data breaches can leave you accused of wrongdoing. Tailoring a policy for consultants to include professional indemnity insurance and other key covers can help protect your business.
Management consultants
Working with an eclectic client base means no two days are the same. It can also mean you’re trusted with access to a large amount of sensitive information, that you’ll interact with many people and provide guidance on commercial matters. An insurance policy built for a consultant can help to mitigate business risks.
Educational consultants
Educational consultancy can involve everything from training teachers to use new technology to advising on classroom policies. You might break a school’s projector, find yourself accused of negligent advice or even be unable to work due to an accident. Business insurance can help protect a consultant against the financial implications of claims in several circumstances.
Environmental consultants
Environmental consultants offer expertise and carry out inspections to inform big business decisions. Insurance for consultants, including cover such as professional indemnity, can assist with defence and settlement costs – if clients claim that they were injured as a result of your work, or that your report contained mistakes.
Recruitment consultants
From protecting your business against the financial impacts of a data breach to safeguarding against employee claims, tailored insurance can bolster a recruitment agency. If you face legal action, insurance tailored for a recruitment consultant can help to cover costs so you can focus on matching candidates with their dream roles.
Health and safety consultants
Giving advice and working with people are integral parts of health and safety consultancy. Someone might claim they were injured by equipment you took to an office risk assessment, or a client could say you made an error in an audit. Hiscox business insurance can be tailored to meet these risks head on.
HR consultants
People are central to HR consultancy, since your work involves advising clients on employee management issues. This all comes with risk. For consultants in this sector, professional indemnity insurance and public liability cover could be key. Your ability to offer expertise could also rely on portable equipment. Build a policy with Hiscox for protective cover.
If you’re not sure what you need, tell us a little more about your consulting business. We’ll help you to build your quote and explore any other insurance needs.
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Key types of insurance for consultants
Consultancy can be varied, so the type of insurance available depends on each consultant’s specialism. Generate a quote or speak to the experts at Hiscox to discover which products you can purchase.
Professional indemnity insurance
Professional indemnity (PI) insurance could be considered key cover for consultants as the role centres around offering expert guidance. An organisation might say the professional advice you offered for their strategy refresh lost them money or a data breach damaged their reputation. If you’re accused of negligence or even a breach of confidence, PI cover can support with the cost of defending and settling claims.
Public liability insurance
As a consultant, your role involves face-to-face contact with people and public liability insurance can mitigate this business risk. Someone might say you damaged their property during an office visit, or that they tripped over your laptop charger before a meeting. Anyone can claim they have been injured or their property damaged as a result of your work. Public liability cover can assist with compensation costs and legal expenses.
Cyber and data insurance
Consultancy work often involves being trusted with sensitive client information. Cyber and data cover can therefore provide welcome reassurance in the face of breaches – targeted or by mistake. You, or an employee, might accidentally share data with the wrong client, or you could experience a cyber attack. Cyber and data insurance can assist a consultant with compensation for loss of income after a breach and help swiftly resume business activities.
Portable equipment insurance
Working on the move is part of being a consultant and your essential business equipment comes with you on the journey. If you’re unable to use your laptop, tablet or smartphone, crucial communications might be missed. Whether your kit becomes lost, damaged, or even stolen, portable equipment insurance can cover the cost of swift repairs or replacements. A consultant operating from an office may also benefit from the combination of property and equipment covers offered by Hiscox office insurance.
Employers’ liability insurance
While your consultancy role may begin as an independent venture, business can pick up, leaving you ready to hire another consultant – that’s where employers’ liability insurance steps in. In most cases, this type of cover becomes a legal requirement (external link) as soon your UK business take on staff. It can help fund defence and settlement if an employee claims they’ve fallen ill or become injured as a result of their work.
Personal accident insurance
Being your own boss has many perks, but if you’re injured in an accident and unable to work, this could impact your ability to earn. Whether you’re injured at work or playing in a weekend football tournament, personal accident insurance can help bolster your business finances. This cover can assist by providing a weekly payment of £250 if you can’t work for more than two weeks.
These are just some of the types of business insurance for consultants that we can offer. We can provide other specific types of cover and build them into a policy that’s tailored to the exact needs of your business.
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