A management consultant was engaged by a company to help with a restructuring project.
The client was advised by the consultant that the work should mean that the client could see immediate cost savings of £50,000 per annum.
Unfortunately, the company actually lost more money as a result of the restructure and began proceedings against the consultant, claiming that he had miscalculated the likely effect of the restructure.
The consultant had Professional Indemnity Insurance cover in place and was able to leave it to solicitors to defend his position. The claim eventually settled for £25,000 with a settlement of £15,000 to the client and £10,000 in solicitors’ costs.
Even if you have done nothing wrong, and your client’s allegations are entirely unfounded, you will need to defend these claims professionally.
In doing so, you’ll have to engage specialist legal advice – and this costs serious money.
Talk to us today about how we can protect you or get an online quote.
