Insurance for Corporate Trainers
As a corporate trainer, you are often charged with conveying high-level information to employees. Your work may make you privy to some company secrets, too. In other words, your clients put a lot of trust in your business when they hire you. That's all the more reason to show them their trust was not misplaced.
Corporate trainer insurance assures clients you can take responsibility for damage you cause or work mistakes you make. Let's look at some policies you may need in your line of work.
General Liability Insurance
General Liability Insurance helps corporate trainers address lawsuit costs when third parties sue them over:
- Property they damaged.
- Bodily injuries they caused or failed to prevent.
- Advertising injuries, like libel or slander.
Corporate trainers constantly travel to other businesses and interact with their trainees, so they are susceptible to lawsuits over damaged property or physical injuries.
For example, say you're setting up for a presentation using your client's computer and projector. If you spill coffee on either, you may have to pay to replace that property.
Or say you organize a team-building activity after a long training session. You gather participants for a rousing game of kickball (it's a nice day, after all). If a trainee gets hurt during the game, you might be on the hook for their medical expenses.
In both situations, General Liability Insurance can help pay for the expenses, including legal bills if you're sued.
Business Owner's Policy
If you have an office or other business property (computers, furniture, phone, etc.), consider purchasing a Business Owner's Policy (BOP). This policy combines General Liability coverage with Commercial Property Insurance, and it typically costs less than buying each separately.
Commercial Property Insurance reimburses your business when its equipment, corporate training materials, supplies, offices, and other property is lost or damaged in a…
- Act of vandalism.
- Covered weather event.
For example, say someone breaks into your office and steals your tablets, computers, projectors, and other electronics. Your Commercial Property Insurance can help pay to replace your property.
Professional Liability Insurance
Professional Liability Insurance, also known as Errors and Omissions Insurance, can cover your legal expenses if a client sues you over work mistakes, such as…
- Delivering substandard training.
- Spreading misinformation during training.
- Failing to deliver agreed-upon services.
As a corporate coach, you can be held responsible for employee performance following your training session. If a client is dissatisfied with the training you provide or the results, they may sue to recoup their losses.
For example, let's say when creating the training materials for a client, you made a mistake in one of the accounting tutorials. This ends up causing your trainees to repeat an accounting error in their spreadsheets. Your client loses time and money as they try to get to the bottom of the error. If they sue, your Professional Liability Insurance may help pay for your legal defense and settlements or judgments.
Worth noting: Because the perceived success of your training sessions isn't always black and white, manage client expectations through your contracts. For example, if you give a sales seminar, make it clear in the contract that you aren't guaranteeing a particular result from your training.