Case Study IT Consultants

Professional Indemnity insurance is an important part of many professionals' business risk management.
We asked successful professionals in key sectors about their business, and where PI fits into the work they do.

Malcolm Leach, IT consultant with software provider Innovartis

What does your business do?

We are a software vendor specialising in database change management products. Our customers are any business or individual that develops software using Microsoft's SQL Server.

What kind of risks do you have to think about in the day-to-day running of your business?

The two main areas of concern are competition and infrastructure failure. We have to stay ahead of the competitor software suppliers and make sure everything we provide is fully operational.

When you first set up your business, did you see Professional Indemnity insurance as an integral part of insurance set up costs or did you buy it later?

It is a key part of the set up for our business cover investment, which was put in place from the beginning.

What are the key benefits of PI cover for IT consultants?

The fact that we have invested in the PI cover makes clients feel better and more confident in our service, as they know they will be protected should things go wrong. Some clients actually require it as part of a new business deal.

What services that you provide are most open to risk?

Any circumstance in which we are offering consultancy advice. Consultancy errors leading to financial or reputation loss for clients are the key risks.

What are your customer's greatest concerns, and how does PI help protect your reputation?

We have actually never had a situation where PI comes into play. Most of my customers' concerns are about pro-active work that we undertake.