What happens if it goes wrong?
In collaboration with If, Interim Search has developed a Liability Insurance specially adapted for interim and management consultants. We call it Consultant Insurance as it is tailored for people who work on temporary line assignments.
In the role of interim consultant your mission is often to enter companies as an advisory resource. In designing the Consultant Insurance, we have therefore ensured that interim consultants and clients with the insurance are covered by full professional liability.
This means that if, for example, you provide your client with incorrect advice on a business objective, the damage is covered by professional liability and you are insured against the damages that the client company or interim consultant may have to pay. The amount of compensation under the consultancy insurance policy is increased to SEK 5 million so that you are properly protected if something goes wrong.
In the development of the Consultant Insurance, Interim Search has mainly collaborated with Alessandra Bruschi who is Key Account Manager at If.
- “Dealing with a claim on your own can be difficult in practical terms but also financially burdensome. What distinguishes professional indemnity insurance is that it provides protection for advisory activities where there is a risk of financial loss. These claims are often legally complex.” Alessandra describes.
And what exactly does professional liability in damages cover?
“When you have professional indemnity insurance, you get help to investigate whether there is a liability for damages, we at If negotiate with the claimant and represent the client company in court. We also pay the legal costs and the damages the company may be liable to pay.”
