Safety consultants are in a trusted and worthy position, but also arguably a potentially risky one as far as some legal eagles are concerned. A safety consultant is trusted as an outsider to give companies and professionals important advice which must help ensure the well-being of workers. With all the will in the world, there is no guarantee that a consultant will got through their entire career without making a mistake and giving the wrong advice, possibly leading to an avoidably injury. This is where safety consultant professional indemnity insurance comes into play.
Professional indemnity insurance protects a company or sole trader should they face a legal claim due to a mistake they have made or due to a negligent act. A policy will also usually cover the loss or damage of data or documents, and will guard against the unintentional infringement of someone’s intellectual property rights. It will also give protection against unintentional defamation, and breach of confidence, although again this will need to have been done unintentionally in order to qualify for cover.
It is worth mentioning that the legal costs of defending an unhappy client’s pursuit of damages can be massive, even if the case is won. A lawyer’s bill can stretch to thousands of pounds or more and professional indemnity insurance will often cover legal costs up to a point, plus the cost of any compensation that might be awarded to a complainant, again up to a certain pre-agreed limit.
Time is also an important thing to consider when seeking out cover. Many consultants will choose to add retroactive cover to their policy, meaning they will still be covered for a set period even after they retire or the business ceases to trade. This is potentially critical given the fact that legal actions can arrive on the doorstep months after the related event actually took place. Safety consultant professional indemnity insurance can provide a potential lifeline in the face of legal action and can even ensure a business remains able to carry on trading in certain circumstances.