As a waste management specialist, the services you provide can directly affect your client’s waste management practices. It’s likely you will also have to conduct site visits that potentially leave you exposed to mishaps resulting in personal injury or property damage. In other words, your actions may cause losses to your client, and you could be at risk of claims alleging breach of professional duty. To adequately protect yourself and your consulting business, you need public liability insurance and a professional indemnity insurance policy.
Waste management consultants are expected to have a high degree of technical expertise and know how to improve their clients’ waste management systems. This makes their business exposed to the following risks of claims:
An amount of professional indemnity insurance cover between $500,000 and $5,000,000 can sufficiently protect consultants, as explained in this video. The actual amount may dependent on a range of factors, such as the type of clients you work with, the size of your contracts, the number of staff you have, and insurance clauses that may be contained in contracts you sign.
Not necessarily, whether or not consultants are required to have professional indemnity insurance policies largely depends on your area of specialty and the insurance clauses in client contracts. In any case, professionals and environmental consultants will need PI insurance if they offer expert services for a fee and are a member of a professional regulatory body. See this video for your reference.
Yes, we can. We have professional insurance brokers who would love to talk to you about your budget and your business requirements. We can create an appropriate public liability or professional indemnity insurance solution based on your input.
Yes, there is. Use our free insurance calculator online for your instant insurance quote.
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