Asked 1w ago
For consultants, you can get sued for providing wrongful advice that results in your client suffering losses. Such cases are common when advising on things like management consulting, project management, etc.
When considering insurance for consultants, it's a standard industry practice to purchase Professional Indemnity Insurance.
Professional indemnity insurance covers you from liability stemming from your consulting work. It protects you from negligence, errors & omissions, sub-contracted work (e.g. outsourced consulting), and much more. This is an essential protection for any type of consultant. Annual premiums can start from as low as $600 - that's about $42/month, which is probably less than than you'd spend on food in a week.