– CONSULTING COMPANY –
Consulting company gather a wide range of services. Basically it is when an expert in its domain sell his professional advices to a company or an individual for fees.
It can be legal, architecture, marketing specialist, hospitality, etc….
All those specialists in their fields see their main risk in their liability to deliver the service expected and agreed with their clients.
In case of failure, financial consequences can rise very fast (legal, indemnity, etc…)
To cover those risks, they must subscribe a Professional Liability Insurance also called Professional Indemnity.
Besides this, here are a set of cover that shall study any Consulting Company to limit their risks.
Property All Risks
Property All Risks Insurance is one of the most basic insurance policy. It is designed to cover your tangible assets from accidents.
It essential to protect your premises, equipment, inventory and vehicles against accidents or risks to your business.
You can also get extension to cover typhoon or earthquake in certain country.
Public Liability Insurance covers any injury to property and persons that happens within your place of business.
It protects your company for the risks but also covers your legal expenses in the face of lawsuits.
It is most of the time extended to your employees liability when their jobs brings them out of your premises.
Employer’s Liability Insurance Policy covers the liability of employers for injury and disease caused to their employees at work.
Depending on the country where your business is located, the law will imposes duties on employers to protect their employees and third party in the workplace.
Breaching this responsibility which is resulting to injury or disease to an employe can be a criminal offense.
Directors & Officers Liability
Directors’ and Officers’ Liability Insurance (D&O) is a coverage that aim to protect personal property and liability of directors, managers and executives, for claims related to their actions or decisions taken in the course of their duties .
If at the origin this type of policy were dedicated to D&O of large company to protect them against claims from their shareholder, more and more D&O of SMEs are now considering those policies to protect themselves against risk of their functions.
Employee Benefits (EB) are getting more and more attention in Asia where business environment is very competitive.
It includes Accident insurance, Group Medical insurance, Term Life insurance, Critical Illness insurance, hospitalization allowance and maternity.
Those benefits can be extended to your employee’s family.