Collegiate Underwriting – Committed to quality underwriting of Management Consultants
As people are now more willing to turn to the law when dissatisfied with service, our work environment has become increasingly litigious.
At Collegiate we are very aware of the impact a claim can have on the financial standing and reputation of your firm. Our professional indemnity insurance indemnifies you from the legal liability and legal defence costs you may incur as a result of breaching a duty of care to your clients.
Professional indemnity is applicable to management consultants in most industries including financial, manufacturing, operational, organisational, project management, property, quality control and transport.
For a quotation
Please download and complete the proposal form on the right, or send a copy of your current insurer’s proposal to [email protected]. If you prefer to speak to the team please call us on 020 7459 3456.
- Direct contact with the underwriter
- Broad civil liability cover: – should a claim arise from a breach of professional duty, perhaps by giving incorrect advice or making an error in your work then anything that isn’t specifically excluded is covered
- Cover for loss of documents, up to the full limit of indemnity
- Cover for fidelity
- Compensation for court attendance
- Industry leading claims service
- A-(Excellent) policy security
Typical claims relating to Management Consultants
- Not informing clients of commercial risks associated with a course of action
- A Consultant not fully understanding their client’s organisation and advising on unsuitable measures
- Claims from individuals, typically directors or shareholders, who allege that they also relied on the advice of the management consultant to a client company
- Giving advice to a client company too late to avoid liquidation or administration or giving advice which is said to lead to insolvency
All PI Insurance is on a claims made basis, that means you must have an active PI policy at the time a claim or allegation is made against you. It is important to remember that once a PI policy expires you can no longer make any claims against it. Therefore you need to consider maintaining your PI insurance once you cease trading. This is called Runoff Insurance and provides protection against any claims which may arise from work you undertook in the past.
Some professional Institutions require their members to carry Runoff insurance.