Insurance for Recruitment Services
Insurance is often the last thing on your mind when you are busy running your recruitment agency. The recruitment industry, however, face a unique set of issues that need to be managed. At MKW we are experts in the field of insurance for the recruitment industry.
Out of this expertise, we can offer market leading products at highly competitive price. The insurance products we offered are by reputable insurers with a proven ability in handling claims and an in-depth understanding of the recruitment industry.
In addition to the high quality insurance products we offer, we are able to provide assistance in areas such as detailed client and host employer contract reviews as well as risk management reviews. The contract review service has proved very beneficial for many agencies and is a valuable part of our broking services. These reviews have led to many client and host employers amending their contracts and has successfully created a greater degree of certainty for the agency.
The sorts of cover required by the recruitment industry
The core insurance policies that are most valuable in a recruitment insurance solution are:
- Public Liability – This insurance policy is vital for all agencies, but especially so for those who on-hire employees or contractors. Many standard public liability policies will not provide cover for an agency’s on-hired workers, therefore you must be careful in choosing an insurance solution and preferably use one that has been developed specifically for the recruitment industry.
- Professional Indemnity Insurance – Many standard professional indemnity polices will not provide cover for an agency’s on-hired employees or contractors or will restrict the occupations that are covered.
- Management Liability Insurance– Management liability insurance protects the company, the individual directors and its officers who undertake these vital roles within the business, insuring them against claims that may arise from within or external to the company.
- Worker’s Compensation Insurance– depending on your State, this is vital cover. Claims are common and rarely simple.
- Business Package Insurance – this policy provides cover for risks including Business Interruption, property damage due to fire, perils or accidents and general property protection.
- Cyber Insurance
To find out about our tailored risk management solutions for Recruitment Services, please contact us