Recruitment consultant insurance is important as there are many things that can go wrong across the board in this industry. Recruitment consultants are privy to confidential information regarding salaries and bank accounts and they also complete personal background checks on a daily basis, so it is essential to maintain the privacy of candidates.
What does recruitment consultant insurance include?
You can create your own recruitment consultant insurance package to suit the needs of your own business, but as standard you should include:
1. Professional indemnity insurance
Professional indemnity insurance covers the costs of defending your recruitment consultancy against any claims of negligence.
An example of needing professional indemnity insurance as part of your recruitment consultant insurance is if your agency fails at completing a thorough background check on a candidate and the new employer finds out that they have a criminal record. You client could then seek compensation for damages.
2. Employer’s liability insurance
If an employee gets injured at work, they could sue you for damages. You need to make sure that you have this type of employer’s liability insurance within your recruitment consultant insurance package if you have employees, as it is a legal requirement.
3. Public liability insurance
As a recruitment consultant you will have plenty of eager and enthusiastic candidates coming through your office doors to be interviewed. Public liability insurance covers you if they were to have an accident where you were to blame, such as falling over a cable when arriving into your office and damaging their laptop or injuring themselves as they fall.
4. Office insurance
Office insurance covers your office equipment if it is accidentally lost, damaged or stolen. Portable insurance covers all the electrical equipment that you take with you travelling to and from meetings and interviews.
5. Business contents insurance
Business contents insurance is a must if you have furniture, computers, phones and other office equipment. It might also include:
- Cover for personal items belonging to employees or visitors
- Protection for promotional merchandise
- Replacement of broken glass