As a management consultant — whether advising on strategy, operations, supply-chain, organisational change or business transformation — you face significant professional risks. A single error, omission or piece of advice that fails can lead to client loss, legal action or reputational damage.
At Fraser Bond, we help consultants understand the insurance cover they need in the UK market to safeguard their business, support client contracts and align with professional standards.
Insurance for a management consultancy business is a portfolio of cover types tailored to the unique risks of advisory work. Key covers typically include:
Professional Indemnity (PI) Insurance – Protects you if a client claims your advice or service caused them financial loss.
Public Liability Insurance – Covers claims if a third-party (e.g., a client, visitor) suffers injury or property damage as a result of your work activities (for example on-site meetings).
Cyber/Data Liability Insurance – If you handle sensitive client data, your advice may involve digital systems: losses from data breach, hacking or theft could expose you.
Employers’ Liability Insurance – Required in the UK if you employ staff — covers claims from employees for injury or illness at work.
Tools & Equipment / Contents Cover – If you have an office, computer equipment, or visit sites with mobile kit, this protects your assets.
These combined policies help shield your consultancy from legal, financial and reputational risk.
Consultants operating in London and across the UK face particular exposures:
Clients may be mid-market or large corporates whose losses can be substantial if your advice fails.
Contractual obligations or frameworks may require proof of insurance before engagement.
Location-based risk (London) and working across industries increases complexity and exposure to professional-risk claims.
Handling client data, providing strategic advice which directly affects operations and finances adds risk of negligence or error.
Insurance therefore is not just a precaution — it’s an integral part of being a professional adviser in today’s market.
Here are some benchmarks and features for insurance for management consultants:
| Item | Typical Detail |
|---|---|
| Premium / Starting Levels | Some quotes start from around £8/month for very small consultancies. |
| Professional Indemnity Limits | Up to £3 m or more depending on your client size and contract exposure. |
| Public Liability Limits | Common limits range from £1 m upwards; duty of care for physical visits or events. |
| Cost Drivers | Turnover, number and size of clients, whether you employ staff, scope of advice, whether you handle data, claims history. |
When assessing your policy, ensure:
The retroactive date covers past work (especially important for PI cover).
The policy wording matches your actual work scope (advisory, site visits, digital/remote work).
The exclusions are acceptable — some policies exclude certain types of advice, territories or services.
You are covered for data/cyber risk if you handle client systems or sensitive data.
Fraser Bond recommends the following structured approach:
Define your consultancy scope clearly – What services do you provide, to what clients (size/type), in what sectors?
Check contractual/client requirements – Many firms will require certain cover levels before contract award.
Choose cover types aligned to your exposures – PI is almost always needed; data/cyber cover increasingly so.
Select appropriate limits – If your advice has major financial impact, choose higher limits.
Review policy wording and exclusions – Ensure your work is included and you understand what’s excluded.
Compare quotes from reputable insurers – Many online quotes exist, but ensure specialist consultancy experience.
Ensure continuity and completeness – Claims-made PI policies require continuous cover; gaps may leave you exposed.
Review annually – As your consulting business grows, changes clients or services, your insurance requirements may change.
Fraser Bond delivers expert advisory services that reflect the intersection of consultancy, business risk and London-market conditions. For management consultants we provide:
Insight into how your advisory services tie into client operations and risk exposures.
Review of insurance policy documentation to ensure your cover is aligned with your business model.
Guidance to help you demonstrate credibility (insurance in place) to clients and procurement processes.
Ongoing advisory support as your consultancy evolves, grows or changes direction.
If you run a management consultancy in London or the UK and want to ensure your business is properly protected, visit FraserBond.com or contact our London advisory team for tailored guidance on insurance for management consultants, professional indemnity, liability cover and data/cyber protection.
