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.

