Recruitment and Employment Agency Insurance
Protecting you and your placed employees
Running an employment or recruitment agency can be tough at the best of times. Placed employees don’t always behave as they should, or misrepresent themselves on their resumes – or the agency can be blamed for misrepresenting a candidate to an employer. Not only that, but placed employees can get involved in all kinds of situations at their workplace which might expose the agency itself to risks of litigation. For example, a forklift driver might cause some damage to an employer’s building. The employer might claim on their own insurance policy, but look to gain restitution from the recruitment agency for not ensuring the driver had all the correct experience or qualifications. And it’s not just manual or casual labour that can expose the agency to risk. If due diligence is insufficient in checking an executive candidate’s credentials, for example, the costs to defend a case brought against an agency can be immense.
In our experience, most recruitment agencies are not properly covered for the risks they face. Their standard Commercial General Liability insurance only provides cover for bodily injury and property damage – but recruitment agencies are exposed to much greater liability than that. An Errors & Omissions (E&O) policy, as part of our specialist Recruitment and Employment Agency Insurance policy, will respond to any financial losses arising out of services rendered. The good news is that Axis Insurance can provide the broadest coverage for recruitment, employment and staffing agencies.
We know that insurance can sometimes be complex and suffer from jargon or arcane language. That’s why we make it simple to understand. Whatever your speciality – from headhunting and the recruitment of top level executives or providing temporary labour in the catering industry – we can tailor our policies to exactly match your needs – giving you peace of mind and value for money.
Here at Axis Insurance we have long experience working with all kinds of recruitment agency. Our specialised team has the experience and knowledge to build the coverage you need – whatever your size or type of business. And with premiums starting as low as $200, it makes good financial sense too.
Features and benefits of Recruitment and Employment Agency Insurance from Axis Insurance Managers:
• A multi-class policy including employee benefits liability, commercial general liability, errors and omissions, placed personnel dishonesty, cyber & privacy liability, property cover and business interruption Insurance
• Vicarious Liability included as standard. This covers the agency’s legal liability arising out of any negligent act, error or omission committed by placed personnel and is not offered by any other insurance markets
• The Placed Personnel definition within the policy separates placed personnel from the agency’s own staff
• Placed Personnel are covered in the Commercial General Liability section of the policy, should the agency be legally liable for bodily injury or illness of placed personnel or, for damage or bodily injury caused by them
• Standard and non-standard terms of business considered
• Cover for all types of placed personnel including, but not limited to, limited company contractors and zero hour employment contracts
• Property cover including worldwide laptop protection, as standard
• Innovative Business Interruption cover on a ‘’flexible first loss’’ basis which means whatever type of business interruption loss is suffered only one limit of liability needs to be purchased at a lower premium
• Clear unambiguous cover for breach of client contract
• Full civil liability coverage
• Cover for breach of intellectual property rights
• Worldwide jurisdiction as standard
• Payment of fees withheld by an aggrieved client, mitigating a potentially larger claim
• Reimbursement of costs incurred to help reduce or avoid a claim
• Limits available up to $10,000,000
• A range of reinstatement options available
• Deductibles Starting from $500
• Premiums starting from as little as $200
As with every insurance policy there are different options, policy wordings, enhancements or amendments available. Your Axis Insurance manager will be able to help create a tailor made policy to suit your exact requirements.
To find out more about Recruitment and Employment Agency Insurance, or to discuss your existing insurance policies, please give one of Axis Insurance’s professional and experienced team a call at 604.731.5328 or email: firstname.lastname@example.org. We would also be pleased to outline the benefits of Recruitment and Employment Agency Insurance with your management team or board members. If you would like to schedule a meeting or request an application form, please contact either Samera McGourty directly at 604 282 7891, or Natalie Chan directly at 604 638 5977.