Consultant claims commonly arise where a client or another party alleges that professional advice or services caused financial loss.

Examples can include the following.

Incorrect advice #

A client may allege that it made a business decision based on advice that was inaccurate or unsuitable.

Failure to identify a risk #

A Consultant may be criticised for failing to identify an issue that the client expected the engagement to address.

Errors in reports #

Incorrect calculations, data, assumptions or conclusions in a report can lead to a claim if another party relies on that information.

Failure to deliver agreed services #

A dispute may arise where a client alleges that the Consultant did not perform all of the services required under the engagement.

Project delays #

Where a Consultant has responsibility for planning, coordination or implementation, a client may allege that an error or omission contributed to delay or additional cost.

Misrepresentation #

A Consultant may face allegations that statements or representations made during an engagement were misleading or incorrect.

These are examples only.

Whether a particular allegation is insured depends on the facts, the professional services insured and the policy wording.

Claims and circumstances that could reasonably lead to a claim should be notified promptly.