Insurance for operating as a consultant is like insurance for your car. You have it, or you don't work/drive.
WRT general liability insurance, a lot of clients will not allow you onto their sites without it. They really don't need the hassle of coming after you for the $10,000 hole in the side of the trailer you made with the truck.
WRT professional liability insurance, it is a requirement to win the contract.
WRT officers/directors insurance, some people are starting to inquire about it, especially at some larger and mid-sized companies. Some are even starting to carry it. As the courts start to move towards holding officers/directors/owner responsible for those working for them (which they are), this will become one of those insurances that gets added to the package.
WRT (With Respect To).
These insurance is not to do with protecting your personal assests, and what not. It is more in line with having a "Permit to Practice" licensure.
Corus's OP was about starting a business. I am assuming he is not talking about him moonlighting. A business has certain overheads, insurance being a large portion of it.
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