At isure, we aim to offer Professional Indemnity insurance suited for Management Consultants in a variety of service areas, including Business Advisory, Employment Consultant, Management Consultant and Project Management (non-construction), as well as insurance for NDIS Compliance Co-Ordinators, to name a few. If you’re a Management Consultant, your clients want expert advice from you. If you fail to deliver the results clients expect or you overlook something important in your consultancy, you may face a professional negligence claim. isure’s Professional Indemnity insurance for Management Consultants designed to protect you from potential exposures. It’s a consultant’s job to improve their client’s social and economic status, and it’s our job to make the management consultant’s job easier. Our insurance for project and management consultants cover most of the risks involved in your business.
Professional Indemnity and Public Liability Insurance – why it’s so important for Project and Management Consultants to have insurance.
Without Professional Indemnity and Public Liability cover, a claim for damages against your business could result in extreme loss, not only for your business, but your personal assets could also be at risk. If you become responsible for a delay in projects, or cause major sale opportunities to be missed, you may be liable for an extremely large compensation award, plus the legal costs too. The growing number of organisations across both the public and private sectors are simply not willing to work with any supplier who does not have Professional Indemnity or Public and Products Liability insurance protection in place. To help protect our customers against these claims, we offer Professional Indemnity and Public Liability insurance not just for contractors, but also consultants. We understand that mistakes and misjudgements can happen in the course of business. If you have this protection, you will be prepared to meet the costs of damaging claims, helping to avoid what could be a very costly mistake. If you provide management consultant services, project management services or work as an NDIS professional and require indemnity insurance, Professional Indemnity and Public Liability insurance can be arranged online in a matter of minutes at highly competitive rates. For an instant quote, follow the link today.
Policy Extensions
Included in the isure policy are extensions for:
- Loss of Documents belonging to your client – $500,000 sub limit
- Attendance at inquiries, legal costs and expenses for representation at any inquiry (official investigation into the conduct of professional services) – $250,000 sub limit
- Dishonest or Fraudulent acts committed by an employee
- One automatic Reinstatement of indemnity limit following a claim
- Unlimited Retroactive Liability
See our policy terms to determine if this cover is suitable for you.
What indemnity limit should I purchase for my Management Consultant Insurance policy?
The limit may be stipulated under your client contract, however, when considering the selection of the indemnity limit, bear in mind that should you become subjected to a protracted legal action requiring professional expert witnesses and other legal professionals the indemnity limit will be significantly eroded by these costs reducing the available limit to pay awards made against you. Naturally, we understand that any purchase is geared to the ability to pay, however, you may want to consider that purchasing professional indemnity with a low limit could ultimately be financially crippling.
What premium can I expect to pay?
Here are some examples of PI quotes from our online system. Premiums are indicative only and subject to change. Premiums do not include stamp duty or GST. D&O insurance is an additional charge. Premiums are the same for 1 to 5 employees.
Professional Indemnity Premium examples*
| Fee Band | Limit of Indemnity | |||
| $250,000 | $500,000 | $1,000,000 | Excess | |
| 0-$25,000 | $178 | $205 | $252 | $250 |
| $25,001 – $50,000 | $215 | $247 | $305 | $250 |
| $50,001 – $75,000 | $242 | $304 | $368 | $500 |
| $75,001 – $100,000 | $278 | $357 | $430 | $500 |
| $100,001 – $150,000 | $388 | $452 | $625 | $500 |
Public & Products Liability*
| Limit of Indemnity | Premium | |||
| $250,000 | Manual Work + | Offshore Work + | Excess | |
| $1,000,000 | $210 | $51.50 | $51.50 | $250 |
| $2,000,000 | $235 | $51.50 | $51.50 | $250 |
| $5,000,000 | $260 | $51.50 | $51.50 | $500 |
| $10,000,000 | $305 | $60.00 | $60.00 | $500 |
*An annual Administration fee of $25.00 + GST is also payable At isure, we’ve made it easy to arrange your Professional Indemnity and Public & Products Liability insurance Management Consultants. In just a matter of minutes, without even leaving this site, or getting up from your chair, you can be covered in your role as a Management Consultant, start by clicking here.
What if I have a claim?
If you already have an existing claim, or need to make a new claim, our claims are managed by our business partner Proclaim via an online login. For claims assistance email info@isureonline.com.au or call 1800 447 873 (8:30am to 5:00pm WST)