Consultants work under difficult circumstances; they have to take up certain risks. If a client incurs a financial loss because of the advice given by a consultant then he or she is liable to make a claim against the consultant for the losses suffered by him.
Professional Indemnity Insurance can help the consultants as well as their clients to have full peace of mind. The client will be very happy if they will be covered and you can be relived that the financial losses of your clients are being covered by the professional indemnity insurance company.
Professional indemnity insurance can usually be taken up as a part of an overall business insurance policy. The business insurance cover can form the core of the consultant’s insurance cover. The consultant can even add some extra cover if they think that they need it.