Why do I need Professional Indemnity Insurance?
As a Recruitment Consultant, your work can have a significant impact on your clients’ businesses. Most of the time, things will go well, but when they don’t your clients may choose to pursue you for compensation to recover their financial losses. Claims against Recruitment Agencies and Consultants don’t happen regularly, but the ones that are made can be complex. A claim can also take up a lot of your time to defend, and without insurance could prove to be very costly. Even if you carry out all of the necessary checks when recruiting staff, you can still be held liable if things go wrong, especially if you work to your clients’ standard contract wordings.
What if I recruit people in High Risk professions?
We work with many different Recruitment Agencies across a wide range of different areas of the Recruitment sector. We know that no two Recruitment Agencies look the same or operate in the same areas of the market. Even if you are involved in several different areas of the market, or recruit high risk workers for offshore or airside work, we are experienced in arranging Professional Indemnity Insurance for all kinds of Recruitment Agencies and Consultants.
What is covered by Professional Indemnity Insurance for Recruitment Agencies?
Professional Indemnity Insurance covers your costs in connection with defending the compensation claim. It covers not only any damages awarded against you, but also your legal costs. There are also a number of extensions of cover available, depending on the nature of your recruitment work. If for example you are involved in the recruitment of driving staff, Drivers’ Negligence cover (which many of your clients may insist on) can be included, and full Vicarious Liability can be covered if you recruit Temporary staff.