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Thursday, February 23, 2006

Financial peril for IT consultants

According to some insurance companies and researchers, many small business owners of IT firms are leaving themselves open to major financial claims that may put their reputations and even worse, their personal assets is jeopardy.

Mark Phelan, managing director of BHP Insurances, says that these mistakes are common and costly. The company provides professional indemnity insurance for IT freelancers, contractors and small consultancy firms.

Phelan says, “Unfortunately many small IT consultants don’t really consider the risks involved in working with volatile computer technology such as programming code, network installation and management, and system integration. All it takes is one simple human error and one dissatisfied client to place a professional’s career and personal assets at risk.”

Submitted by Computer Consulting 101