Industry
Professional Services
Utilisation, realisation, and a balance sheet that is mostly people.
A professional services firm owns hardly anything physical and spends nearly everything on people. Whether you make money comes down to utilisation, realisation and pricing. Most firms track those three loosely, if at all.
The risks line up with that. Professional liability, the client data you are holding, and the employment exposure of a business whose entire asset base goes home at six.
Services for Professional Services
The work that comes up most often in this sector, grouped by discipline.
Accounting
All Accounting →Tax
All Tax →Advisory
All Advisory →HR & Workforce
All HR & Workforce →Insurance
All Insurance →Professional Services Insurance
For firms whose product is judgement.
Read moreProfessional Liability / E&O
When the claim is about your advice, not your premises.
Read moreCyber Liability
Breach response, extortion, and the income you lose while everything is down.
Read moreEmployment Practices Liability
The claims that come with being an employer.
Read moreProfessional Services insights
One Remote Hire Can Create Tax Obligations in a State You Have Never Entered
Economic nexus and remote work have pulled tax obligations loose from physical presence. Hire one person in a new state and you have almost certainly created payroll withholding duties, and often income-tax nexus too.
Long-Term Contractors Are the Classification Risk Most Businesses Ignore
The arrangement most likely to fail a worker classification test is also the most ordinary one going: a contractor who has worked full-time for the same client for years.
Your Cyber Policy Assumes Controls You May Not Have
Cyber carriers now write security preconditions into the policy as warranties. If what you said at binding isn’t true when the loss happens, the cover you paid for may not respond at all.
What a Buyer Pays Is Decided Years Before You Sell
The discounts buyers apply, for owner dependence, customer concentration and informal records, take years to remove. By the time you’re on the market, the number is mostly already set.
Professional Services
We already know what usually matters in professional services.
Utilisation, realisation, and a balance sheet that is mostly people.