Insurance for Project Managers

Why do Project Managers need insurance?

Bringing projects to life is your expertise. But when it comes to organising your business insurance, this is one project you can outsource. We can provide multiple quotes from some of Australia’s leading insurers straight to your inbox or over the phone in minutes.  

Project manager insurance can cover project management activities undertaken by a variety of occupations including:  

•  Management consultants  
•  Information technology (IT) / Computer Consulting services  
• Construction project management services  
• Architect and Architectural consulting services  

Get the cover for your business

Professional Indemnity

Your role as a project manager brings a great deal of responsibility to deliver results.  When the result doesn’t go to plan or even worse, your plan contains an error, there is a possibility that a claim (including legal action) may be made against you.

Some of the areas of risk project managers may be exposed to include:

• Providing incorrect advice to a client
• Failure to manage the project
• Misinterpreting data or plans

This is where Professional Indemnity is likely to assist you.

It is designed to respond to claims against your business for losses arising as a result of actual or alleged negligent acts or omissions in the provision of your professional consulting service or advice. PI Insurance will also assist with the legal costs associated with responding to or managing claims which are covered by your policy.

Public Liability Insurance

Whether you work from an office or you’re out and about onsite, Public Liability insurance is important to your project management business. It is designed to provide protection for you and your business in the event a client, supplier or a member of the public is injured or sustains property damage as a result of your negligent business activities. 

Management Liability

Management Liability insurance is designed to provide protection to both the business and its directors or officers for claims of wrongful acts in the management of the business.

Cyber Liability

Take the time to think about the client data or personal information you may be storing and the severe consequences if it were compromised.  

Cyber liability insurance is a type of business insurance product which protects your business against both the legal costs and expenses (including compensation payments) related to cybercrime incidents. Your coverage may generally include cover for expenses and legal costs relating to the following: 

• Data breaches
• Theft or loss of client information
• Business interruption costs
• Forensic investigation
• Data recovery
• Extortion
• Fines and penalties
• Crisis management costs (to restore your businesses reputation after an attack or data breach)
• Legal costs from any ensuing civil action taken against you or your company