Risk management in the consulting firm can be challenging simply because most of your clients rely on the services you provide to them. Thus, in order to maintain healthy relations with your clients you need to make sure that your liability is well covered.
It’s important to assess your risk and consider coverage, because as an independent, you don’t have the financial resources of a big company to back you up in the event of a client lawsuit.
Also, more companies have recently begun requiring independent contractors to carry liability insurance when working on a project for them.
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