As food consultants, you are likely to guide clients across various segments of the industry, making you vulnerable to potential claims. This may include professional advice on food safety and specialised services to those planning to invest in the food industry. Making a mistake means defending a costly legal claim. As a food industry consultant or business owner, think about how to minimise the impact of claims before they happen.
FD Beck in Australia may be able to arrange a cover specific for food consultants and consultancy business owners. The cover can be in the form of professional indemnity insurance and other additional policy you can use to take care of defence costs and compensation payouts relating to claims.
Insurance Policies for Food Industry Consultants
Even the most experienced food industry consultants can make mistakes that can lead to a claim against them. The cost of defending a claim can be hefty, but you can get protection with suitable insurance products.
Professional Indemnity Insurance
When it comes to alleged negligence and errors in your work, professional indemnity insurance can help manage the consequences. PI insurance covers legal defence costs and other claims for compensation necessary to settle the matter.
For instance, while handling a food production project, the client alleged that you submitted recommendations in your report that once implemented caused the them to lose money. As a result the client is demanding compensation for their loss. This situation can be handled with professional indemnity insurance coverage.
Public Liability Insurance
Unlike professional indemnity (PI) insurance, public liability insurance indemnifies the third party for claims of property damage or personal injury. It covers both the legal cost and other payouts required by the third party in their claim against a food industry consultant.
An example would be a legal situation where a customer filed a products liability claim against alleged allergens in their food. As the food consultant, you are held liable for negligence to review the ingredients before the sales of the product. Thus, you can deal with the claim with public liability insurance.
Common Risks Faced by Food Industry Consultants
Upon managing your responsibilities as a food industry consultant, these circumstances may become a problem for you and your reputation.
Get solutions that lessen the impact of claims.
Food industry consultants and entrepreneurs may suffer from the instability brought by potential issues. If not handled properly, a claim may also have a great impact on your reputation or business branding.
FD Beck could offer professional indemnity cover along with other general liability covers that cater to specific industry risks. Food industry consultants in Victoria, Melbourne, and other areas in Australia may talk to our team of brokers to obtain advice about suitable covers.
If requested, a food industry consultant can also meet with our insurance brokers for customised coverage. Aside from the standard professional indemnity policy and public liability cover, consultants may also add other insurance products.
Explore our online form to get a quick quote now.
1. How to calculate the right professional indemnity insurance cover for food industry consultants?
Please consider factors, including your business size, nature of risks, and industry requirements in the calculation. If you’re a consultant, you may be under a contractual requirement from your client to hold a minimum level of cover. For more information, watch this short video about “How much professional indemnity do I need as a consultant or freelance professional?“
2. Does a freelance food consultant need professional indemnity insurance for every project?
Yes, you will need the financial support offered by a professional indemnity insurance policy. In the event that claims against your work arise in the future, you can benefit from your insurance policy.
3. Is there a way to customise a policy according to my needs and budget?
Yes, we can give you customised coverages that tailor to your budget, risk exposures, and other requirements. Please discuss the details of your policy with one of our insurance broker to receive additional information. Check out this video on examples that might be covered on your professional indemnity policy.