Austbrokers Countrywide is a specialist insurance broker in the Professional Indemnity field.
We have the right insurance solutions for Management Consultants and Executive Coaches. As your insurance broker Austbrokers Countrywide has access to Professional Indemnity insurance with a broad cover at competitive rates.
Management Consultants and Executive Coaches work closely with their client’s business and their leadership group. They are made privy to an organisations intellectual property and are charged with providing advice and designing strategies to help a business be sustainable. Lack of financial results may be laid at the feet of the professional consultant; even if the claim is unfounded, the legal defence costs alone can cripple a consultancy financially and make it difficult to focus on the next project. Allegations of failing to develop plans that are easily implemented by the client, breaches of copyright and trade practices are also claims that the management consulting and executive coaching industries are exposed.
Claim Example A management consultant was retained to develop training material for a client. The contract specified certain rights and obligations in relation to intellectual property and confidentiality. The consultant created a new manual, the contents of which were reproduced from the earlier material developed by the client. The consultant was subsequently retained to create a similar manual for a different company. The claimant has alleged that the consultant has infringed its copyright in the training materials and had misused confidential information. The claimant also alleged breaches of fiduciary duty and misleading and deceptive conduct in contravention of the Trade Practices Act.
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