Indemnity Insurance for Management and Business Consultants
Management and business consultants play a crucial role in helping businesses to get a leading edge in today’s complex business scenario. They provide their specialized advices to companies for advancing their existing functionalities. These experts study, analyze and provide their expert opinion for a number of reasons including re-establishing of departments, changing processes and steps, streamlining activities and such others.
Being acting as a prime force behind bringing improvements in a business’s current structure, management and business consultants are always at high risk. At any point of time, they can be held responsible for losses that have occurred as a result of professional negligence.
Fortunately, by having an indemnity insurance, management and business consultants can avert situation that creates financial insecurity for you. An indemnity insurance policy even pays for costs for defending a consultant if a client decides to sue him.
3 comments:
Hi - a good post about professional indemnity insurance. I work for a company allowing business consultants (and management consultants of course) to compare between policy pricings from different insurers. We're Australian so not a competitior :) Feel free to comment on our blog: http://www.bizcover.com.au/bizcover/
State law determines what insurance is required for business and how much. Usually you need to insure people and property other than your own in the event of any happening. corporate liability insurance
Exactly, Ruchi is right, the insurance parameters and all are already defined by the State Law. We just need to follow them. To be insured is the main thing in this anyhow. State Contractor License Bonds California
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