You are the consummate professional.  You have life and business experiences that matter.  You breathe energy into others.  You contribute.  You network.  You hustle.  You bring value that is unique and helpful.  You make others better.

You are on the hook.

Professional Services

Professional negligence (actual or alleged) is not covered on a standard insurance policy (see Exclusions. Professional Services).  Your exposure as a professional is not as much property damage or bodily injury, it is how your advice changes the trajectory of your client.

Certainly no one would sue you for your advice?  Guess what.  It happens and those suits settle quietly (with or without insurance) because most of the time it is in everyone’s interest to do so.

So which attorney are you calling when the suit papers come?  Feel good about managing those defense costs?  It is real folks!

Here are a few hypotheticals where professional liability insurance may protect you even if you believe a mistake hasn’t been made.

HR Consultant – You are hired to help solve complex hiring/onboarding decisions.  Your advice is heeded and it turned out to be a disaster for all parties involved.  You are sued for your negligence to properly address all the risks your client faced.

Executive Coach – You are hired to improve sales management, but the strategy was not successful, and sales actually decreased. The client could make a claim for failure to deliver the services promised.

Marketing Consultant – You are hired to help launch a new website and branding initiative.  There were multiple delays and extensions that caused your client to miss the launch date and their peak sales season.  They sue to recover the financial harm caused by you.

Just like many insurance products, everything is OK – until it is not.  And when “it is not” hand shake deals and smiles go out the door when your advice causes financial harm.

Jeremy Hyde | Colligan & Company

Business Consultant | Human Resources Consultant | Management Consultant | Marketing Consultant | Research Consultant | Graphic Designer | Mental health Counselor | Brand Consultant | Public Relations Consultant | Event Planner | Executive Placement | Life/Career Coach | Executive Coach | Technology Consultant

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About the Author: Jeremy Hyde

Christian, MK/PK, Brother, Husband of a magnificent wife, Father of three sons and two daughters, Insurance dork, Sports and Racing fan, Competitor, Coach, Early riser, Grill-man, Yearner of sand dunes and Lake Michigan, Owner of a Yorkie named Gerald, Wannabe basketball player, Reluctant handyman, Car enthusiast, Admirer of passion and excellence and design...

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62 Comments

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  21. Kaitlynn Cloudy December 17, 2019 at 12:47 am - Reply

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  26. Frank B January 23, 2020 at 4:36 am - Reply

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  28. Ramona B February 4, 2020 at 8:37 am - Reply

    Thank you, interesting business insurance article.

  29. Aiden Hennessey February 4, 2020 at 10:40 am - Reply

    I don’t think a lot of professionals carry this insurance! Better ask them!

  30. Ryan L February 9, 2020 at 7:41 pm - Reply

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  31. Mary Coon February 13, 2020 at 5:03 am - Reply

    Good content on professional liability insurance.

  32. Katherine Kasper February 13, 2020 at 5:21 am - Reply

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  33. Lino Garfield February 20, 2020 at 1:20 pm - Reply

    Really, people need to be discussing these things with a trusted insurance agent.

  34. Eric M February 28, 2020 at 11:45 pm - Reply

    I’ve been a consultant for 5 years and only recently was I required to carry professional liability for a contract I obtained. Thanks

  35. Bud March 2, 2020 at 1:56 am - Reply

    Good insurance advice for us small business consultants

  36. Ken Ludd March 5, 2020 at 6:11 pm - Reply

    Good advice on getting professional.

  37. Fulvia March 20, 2020 at 1:09 am - Reply

    Professional insurance is needed, unfortunately we don’t typically see these people buy it unless there is a contract requirement

  38. Darren Marsico March 23, 2020 at 11:32 am - Reply

    Its very possible this insurance could be needed for consultants, definitely can see the need.

  39. Elle April 22, 2020 at 9:56 am - Reply

    Good info on professional insurance

  40. Drew Hancock April 23, 2020 at 12:21 am - Reply

    I’m just starting out in executive coaching but I should consider this when I get my revenues up

  41. Sheri April 25, 2020 at 3:05 am - Reply

    Good to see an Indiana insurance agency taking care of this need

  42. Sarah April 30, 2020 at 11:50 pm - Reply

    Good info on insurance

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  44. Cedar K May 27, 2020 at 4:47 pm - Reply

    Buy the insurance folks.

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    Looking forward to reading more. Great blog post. Much thanks again. Awesome.

  46. Josef June 4, 2020 at 8:01 pm - Reply

    Go Fort Wayne insurance

  47. Frank S June 20, 2020 at 9:04 am - Reply

    Every business person should know their risks and what’s available to them, talk to a qualified person/agent/attorney

  48. Charles June 26, 2020 at 8:14 pm - Reply

    Professionals need insurance just as much as contractors, get it done!

  49. Sarah N July 12, 2020 at 8:58 am - Reply

    Professional insurance…makes sense, thanks for the info

  50. Heidi July 24, 2020 at 1:41 pm - Reply

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    Great post. Much thanks again.

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    Can you tell us more about this? I’d love to find out some additional information.

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    Aw, this was an incredibly good post. Taking the time and actual effort to generate a great article! but what can I say I hesitate a lot and never seem to get anything done.

  57. Andy May 22, 2022 at 10:57 pm - Reply

    Having read this I thought it was rather informative. I appreciate you spending some time and energy to put this short article together. I once again find myself personally spending a lot of time both reading and commenting. But so what, it was still worth it!

  58. Erin June 4, 2022 at 9:52 pm - Reply

    I hadn’t thought about a professional risk, just through regular insurance covered it

  59. Gary June 5, 2022 at 11:36 pm - Reply

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  61. Oscar September 5, 2022 at 10:20 am - Reply

    I’ve been thinking through these scenarios. Thanks for the comments

  62. Nate October 31, 2022 at 12:51 am - Reply

    Thank you for the feedback, we appreciate your business!

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