Professional Liability Insurance for Consultants – E & O Insurance

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As a consultant in any industry, protecting your reputation — and your assets — are critical to sustaining your career. Clients place their trust in a consultant’s advice, and can often be quick to point fingers if and when that advice seems to steer them wrong.

No matter what their industry, consultants in Ontario rely on professional liability insurance as a safety net to protect them in the event of a legal claim of wrongdoing. Whether it is a simple matter of miscommunication or whether an actual error has been made, consultants can face career-threatening damages if they are not properly covered.

Common Risks for Consulting Professionals

Many consultants working both independently or within a larger firm make the mistake of thinking that they are covered fully by a traditional CGL policy, exposing them to legal risks that could be covered by an E&O policy.

Take a look at some hypothetical scenarios based on some of the most common types of claims consultants face:

Defamation or Slander

As a PR consultant for a client, you are interviewed about your client by the media after your provided services for them are over. The client claims your response was slanderous; damaging to their reputation and cost them a sponsorship.

Professional Error

As an HR consultant for a client, you make your best judgment based on a variety of factors and resources you have available to you. A client claims that you have provided them with an employee who does not meet the job description’s requirements.

Administrative Error

You are accused of carelessness while processing data when an error is found either within some of the data entered or the method in which the data is transformed.

Failure to Communicate

As a business consultant, a client alleges that you have failed to inform them of a critical regulation or policy, resulting in their business losing money or missing a deadline.

Of course, with consulting being such a complex and fast-changing field, these are just a small sampling of the types of claims that can arise. Cover Advantage can help you mitigate these risks with comprehensive Errors and Omissions coverage.

Who Does Cover Advantage Protect?

Consulting can take on many meanings and often be applied to a huge range of professional roles. Some consultants work independently, some for large firms, and others as freelance or short-term hires. Take a look at some of the most common types of consulting professionals:

PR Consultants

PR Consultants

HR Consultants

HR Consultants

Marketing Consultants

Marketing Consultants

Financial Consultants

Financial Consultants

Business Consultants

Business Consultants

Bottom line: if you offer professional advice or guidance to clients in any direct or indirect way, you are likely at risk of a professional liability claim. Get the peace of mind you need now.

Get a Quote. Get Covered.

As a consultant, you are called upon to set the example for your client and help set them up for long-term success. Likewise, any serious consultant should take the proper precautions to ensure their own long-term financial safety. Don’t leave yourself at risk; make the choice to get covered now.

You will have peace of mind knowing that your coverage is backed by Lloyd’s of London, one of the world’s largest and strongest insurance companies.