Quality Assurance Consultants Insurance

Protect yourself from costly claims with an insurance policy tailored to your needs

Quality Assurance Consultants

As a quality assurance consultant, your duty is to assess your client’s output and make sure that their product is up to an acceptable standard. But no matter how well you carried out your consultancy work, you may still end up with disgruntled clients who may blame your service or advice for the losses incurred in their business.

FD Beck Insurance Brokers can arrange insurance policies that cover liability claims due to such claims, giving quality assurance consultants some peace of mind while they offer their services.

Why Do Quality Assurance Consultants in Australia Need Insurance?

As you provide solutions to address any inadequacies, a mistake may be costly for your client. Losses to your client will be an expensive affair for you as well, as this will likely result in a claim. With insurance policies, however, you can mitigate the risks and the policies may provide the following benefits:

Insurance that Quality Assurance Consultants Need

You may be working as an independent quality assurance consultant or are operating a quality assurance consultancy business with a team of employees. As a specialist, you require two insurance policies as minimum.

Professional Indemnity Insurance

Professional Indemnity insurance is a cover for anyone who provides advice or services of a skillful nature and provides protection against a claim for compensation as a result of incorrect professional advice or service. Professional indemnity insurance not only covers the insured for the liability owed to the third party for the loss suffered, but also covers legal defence costs incurred to settle the matter.

Over the course of consultation work with a client, when developing and redesigning their Standard Operating Procedure you might end up providing the wrong advice. This may result in financial losses to your client, and a professional indemnity insurance solution protects you from claims made in these types of situations.

Public Liability Insurance

Public liability insurance protects you against claims resulting from accidents or injuries that occur as result of your business activities, as well as accidental damage to property owned or controlled by someone else. Not only does liability insurance cover the cost to compensation the third party but it also covers legal costs to defend the claim.

For example, a piece of faulty equipment you are using during your consulting work causes damage to a client's plant. Even veterans in quality assurance consultation may commit harmful mistakes, most likely due to negligence or oversight. You may count on PL insurance to help cover a claim made by your clients during such incidents.

Risks Associated with Quality Assurance

The goal of an insurance policy is to protect quality assurance consultants against a variety of claims related to their work. These are some of the scenarios that professional indemnity and public liability insurances may help with:

Failure to identify potential risk factors and offer appropriate solutions resulting in financial losses.
Losses to a client due to your failure to implement a quality management system and train the team of internal auditors.
Losses to a client due to incorrect development and redesign of Standard Operating Procedures.
Failure to conduct regular quality checks resulting in losses to a client.
Breach of confidentiality

Let FD Beck Insurance Brokers Assist You

With years in the field, we’ve come to understand this risk associated with your profession. FD Beck’s team of qualified insurance brokers will offer you insights into the kind of insurance policies suitable for you. Let us know the details of your job so we can guide you through the process of arranging your policy.

Get your quote from our free online insurance quoting tool.

FAQ

1. How much insurance cover will a Quality Assurance Consultant need?

The cost of claims greatly varies, but generally, a quality assurance consultant will need between $500,000 and $5,0000,0000 of professional indemnity insurance cover. The amount of cover depends on several factors, including the nature of your business, the size of your company, the types of clients you consult to, and insurance or indemnity clauses you may be signing. You can check here as to how much professional indemnity you need in your industry.

2. Do all Quality Assurance Consultants need professional indemnity insurance?

Yes. Quality assurance consultants and all other professionals charging fees for any professional advice or service need professional indemnity insurance. There are also factors to consider before deciding how much PI to buy, especially for consultants and freelance professionals.

3. I have a budget for Quality Assurance insurance coverage. Is it possible for you to create a package suitable to my budget?

Yes, it is possible. We can tailor your Professional Indemnity insurance policy based on your budget. We value your requirements which is why we are available to discuss your individual needs. It may also help to know what public liability covers as it you will require this in addition to PI insurance.

4. Can I get a quote online?

Yes, you certainly can. Feel free to use our online form. Our online policy calculator gives you multiple coverage limit options including professional indemnity as well as other insurance products such as Public Liability, Management Liability and Cyber Insurance.

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