Professional Services Insurance
Specialist insurance for UK professional services and advisory businesses. Taurus arranges professional indemnity, public, employers' and products liability, cyber, business interruption and management liability cover for consultants, technology firms, recruiters, agencies, accountants and other advisory practices.
Why Professional Services Insurance Matters
Advisory and service businesses carry distinct exposures. Your main asset is your advice, so a single allegation of a mistake, missed deadline or poor counsel can lead to a claim that runs well beyond your fee.
Advice & negligence claims
Client contract & framework requirements
Cyber and data exposure
Employment and management liability
Loss of fee income after disruption
International and multi-jurisdiction work
Comprehensive Professional Services Cover
A professional services programme usually brings together several lines of cover, arranged as a combined policy or standalone as the risk requires.
Professional Indemnity
Core cover for claims that your advice, designs or services caused a client a financial loss, including defence costs. Written on a claims-made basis, with retroactive date, limit of indemnity and run-off all key considerations.
Public Liability
Third-party injury or property damage arising from your business activities, whether at your premises or visiting client sites. Limits typically range from £1m to £10m.
Employers' Liability
A legal requirement once you employ anyone. Covers claims from employees for work-related injury or illness, typically with a £10m limit as standard in the UK market.
Cyber & Data
First- and third-party cover for data breach, ransomware, cyber business interruption and liability for lost client data. Often paired with technology PI where exposures overlap.
Business Interruption
Replaces lost income and helps meet ongoing costs if an insured event, or a cyber event under a cyber policy, disrupts your operations. Getting the indemnity period right is key.
Directors' & Officers' / Management Liability
Protects directors, officers and managers personally against claims arising from management decisions. Often arranged as a management liability package with EPL and entity cover.
For a full explanation of how core advice cover works, see our guide to professional indemnity insurance. Technology firms can also explore our dedicated technology insurance specialism.
Flexible Professional Services Solutions
Whether you are a sole consultant, a growing agency or an established practice, we structure programmes around your fee income, contracts and risk appetite.
Frequently Asked Questions
Common questions about professional services insurance answered.
What is professional services insurance?
Professional services insurance is a package of covers arranged for advisory and consultancy businesses. It typically combines professional indemnity, public and employers' liability, cyber and, where relevant, directors' and officers' cover, tailored to the way a firm advises clients and handles their data.
Which businesses count as professional services?
Professional services generally covers businesses that provide advice, expertise or a professional skill, such as consultants, IT and technology firms, recruitment agencies, marketing and creative agencies, accountants and bookkeepers, and engineering or design consultants.
Do professional services firms need professional indemnity insurance?
Most do. Professional indemnity is often required by client contracts and, for some regulated professions, by a professional body. Even where it is not mandatory, a single negligence claim can exceed the net worth of a small firm, so it is generally treated as core cover.
What does professional services insurance typically cover?
Cover usually includes professional indemnity for claims of negligent advice, public, employers' and products liability, cyber and data protection, business interruption, and often directors' and officers' (management liability) cover. The exact mix depends on the profession and how the firm operates.
How much does professional services insurance cost?
Premiums vary with the profession, fee income or turnover, the limit of indemnity required, claims history and the territories worked in. A broker can benchmark multiple insurers to find competitive terms for a firm's specific risk profile.
Can cover be combined into one policy?
Often, yes. Many professional services firms arrange a combined or package policy that brings professional indemnity, liability, cyber and other covers under one policy and one renewal date, which can simplify administration. Larger or higher-risk firms may keep some lines standalone.
Protect your firm with the right cover
Tell us how your business works and we will benchmark the market to structure professional services cover at the right price.