A Management Consultancy liability insurance takes into account the main liability risks associated with your profession or company. The management consultancy liability insurance ensures that you are legally assisted with the legal defense procedure, but also that a compensation is paid that pays the claim. Professional indemnity insurance
General information Management Consultancy liability insurance
Working with time pressure and complexity is a daily routine for a Management Consultancy. Though, it is also a breeding ground for mistakes. Usually this is not a problem but sometimes it has serious consequences. A Management Consultancy liability insurance can often solve that problem. The professional liability insurance covers the risks that apply specifically to you or your company. A Management Consultancy liability insurance with an extremely competitive premium, which you can expect from an insurer who knows what professional liability means.
Audio Management Consultancy liability insurance (in Dutch)
Amount insured Management Consultancy liability insurance
We have opted for an insured amount for a Management Consultancy liability insurance of a maximum of € 250,000 per claim once per year. On request it is possible to increase this amount (against a surcharge) to € 500,000 or € 1,000,000.
2 claims in one year
As standard, one claim per year is insured with a Management Consultancy liability insurance. If you want to insure 2 claims per year, this is additionally possible. Both claims have the selected insured amount as a maximum.
Knowledge areas and activities
- Analysis & statistics (no actuarial services and not for financial institutions) Compliance & risk management (not for financial institutions, including KYC / CDD / AML) (legal advice in the context of the compliance & risk management advisory practice is co-insured)
- Data protection, file creation & archiving (no ICT screening)
- Facility & procurement support (procurement) (tender with the exception of grant advice / guidance)
- Finance & control Mergers & acquisitions (commercial due diligence)
- HR, recruitment & selection (headhunting) Import, export & trade Privacy (including privacy officer with the exception of financial institutions) (legal advice in the context of the privacy advice practice is also insured)
- KAM coordination (quality, working conditions, environment) (no safety science)
- Logistics & transport
- Organizational design & development
- Outsourcing & franchise
- Reputation & CSR Strategy and change (turnaround)
- Training & coaching
- Absenteeism & reintegration
- Secondment of professionals (only in one or more of the above knowledge areas)
- Interim management and / or project management (with the exception of technical (only in one or more of the above knowledge areas)
- This does not include ICT and / or marketing consultancy / interim and project management (see our product ICT / marketing).
This does not include project / interim management for companies in technology, b & u construction and infrastructure, (petro) chemicals, pharmaceuticals, biotech, food production and for financial institutions; which relates to the core activity of the company / institution concerned. Although project management could include all aspects of the above knowledge areas, this is not the knowledge area of the project to be realized.
Corporate Liability Management Consultancy Liability
You or your company may be held liable if you (or one of your employees) cause material damage or personal injury to third parties during working hours. This can be property damage (damage to someone else’s belongings) or personal injury. Business liability also includes your responsibility as an employer towards your employees. Not only direct damage, but also possible consequential damage can be considerable, for example if the victim becomes incapacitated for work as a result of the incident. A few examples.
Amount insured with a Management Consultancy liability insurance. We have opted for an insured amount of € 2,500,000 per claim and a maximum of € 5,000,000 per insurance year. A deductible of € 100 per claim for property damage applies to corporate liability.
Audio corporate liability (in Dutch)
Cyber and Data Risks
Cyber and Data Risks (premium and conditions) insures your business against the consequences of hacking, system intrusion, lost data, data theft and cyber attacks. It is an insurance policy that builds on our many years of experience with the consequences of data breaches and hackers.
The sub-limit is € 100,000 per claim as part of the total amount insured for professional liability. The deductible is € 1,000 per damage / claim (including costs). This insurance is not a part of the Management Consultancy liability insurance.
Co-insure activities from last year
Your company can still be held liable for activities in the past. You are then covered according to all selected coverages. If the company has already had insurance that is consistent with the new insurance to be taken out (walk-in with previous insurance), this is also insured free of charge. If you want to insure activities from the past, please indicate this in comments.
Hiscox is an international niche insurer listed on the London Stock Exchange (LSE: HSX). Hiscox has offices in Belgium, Bermuda, Germany, France, Guernsey, Ireland, the Netherlands, Spain, Portugal, the United Kingdom and the United States.
The group has three underwriting units: Hiscox London Market, Hiscox Re & ILS and Hiscox Retail.
Hiscox London Market and Hiscox Re & ILS undertake large or complex projects that we sometimes share with other insurers or that require Lloyd’s international licenses.
Hiscox Retail offers a wide range of niche insurance policies for professionals, corporate clients and very wealthy individuals. This includes operations in the US, UK, Europe, Hiscox Special Risks and DirectAsia.
The Management Consultancy liability insurance is the leading insurance where Hiscox is often used as a reinsurer for the regular insurers.
- Fast handling (no quotation process, immediate issue of a provisional policy) of a Management Consultancy liability insurance.
- Competitive premium.
- No deductible (professional liability).
- High-quality cover tailored to the profession / sector, including your liability.
- World coverage and jurisdiction excluding United States of America / Canada.
- Freedom in handling terms of delivery with regard to clients.