Why would someone need safety consultant professional indemnity cover?
Once you have learnt your trade, it can be rewarding to go off and make a career in advising people connected to the sector. Specialist advice is highly sought after by some companies looking for professionals to help them fulfil legal requirements and financial targets. The role of a safety consultant is also potentially valuable to some firms looking not only to keep up with the law, but to make sure their employees operate in as safe an environment as possible. However, as with any business, there are risks, and safety consultant professional indemnity cover can help professionals protect themselves against such risks.
Indemnity cover might be a phrase you are completely unfamiliar with, but its ins and outs are not as complex as you might first suspect. All the phrase relates to is insurance which kicks in if you face a claim from a client that you have made an error, omission or committed an act of negligence in your work.
If a consultant makes a straightforward mistake in their advice, a company could be in breach of safety regulations and choose to take legal action. As a professional adviser, you have a duty of care to provide a professional service. If a client feels they have not got this they may be minded to seek compensation for their financial injury.
Indemnity cover will pay for the legal costs of defending such an action. Few companies have enough in their coffers to simply pay out right for legal help to fight a case. Solicitors bills can run into hundreds of thousands of pounds, and the right cover will simply pick up the tab.
Even if the person who is issuing the complaint is successful, your policy will pay out the costs of any compensation that might be awarded, subject to the limits of the policy, normally agreed when it is taken out. Safety consultant professional indemnity cover will also cover you for things like loss of a client’s important documents or data, and even allegations of defamation, breach of copyright, and breach of confidence, meaning there is virtually no common legal scenario you will not get some protection for.
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