Top 7 insurance policies for Recruitment Agencies

24th July 2020
Written by Qdos Contractor

Counting down and explaining the top 7 insurance policies for recruitment agencies

We are going to take a look at the top 7 recruitment agency insurance policies. These are insurance policies that you should be considering to provide your recruitment business with the protection it needs to continue placing candidates with end clients.

There are plenty of pitfalls to running any business, including a recruitment agency. Your exposure to risk should always be taken into consideration whether you are just starting a recruitment agency or whether you are already up and running.


Professional Indemnity

Professional Indemnity Insurance, often referred to as simply PI provides you with cover in the event that a third party alleges there was a negligent error or omission in the services provided that caused them to sustain a financial loss.

Professional Indemnity Insurance may not be legally required for your business, despite this, it is still an important form of cover to have in place. It is surprisingly easy for mistakes to happen in the workplace. Having PI in place means that you are covering your business from losses sustained from those mistakes.



Public Liability

Public Liability Insurance provides your business with cover should a claim be brought against it relating to either the personal injury of a third party or physical damage to third party property.

Our places of work are often hectic. It is not particularly hard to imagine that something might go amiss. If you have clients or other third parties visiting your office, you will want to consider having adequate Public Liability Insurance in place. Even if it is only a small, quiet office.

Perhaps a member of the public visits your business premises and they trip on a loose wire. If either they fall and suffer bodily injury or if they catch themselves at the expense of dropping their laptop, your business will likely be liable. With Public Liability Insurance in place, you are protecting your business from losses such as these.

Employers Liability

Employers Liability Insurance covers your business from loss arising from personal injury to any employees of your business as a direct result of their work.

Employers Liability Insurance may be a legal requirement for your business. If you employ a member of staff, it’s likely that this will be the case.Accidents happen. By ensuring you have adequate Employers Liability coverage in place, you are limiting the potential financial damage an accident can have upon your business. Make sure you check whether Employers Liability Insurance is a legal requirement for your business.


Cyber Insurance

Cyber Insurance unsurprisingly protects your business from a varying range of cyber risks. This usually includes both data protection and losses arising from damage made by hackers.

If your business is in possession of sensitive data belonging to your customers, then Cyber Insurance could be vital. This form of cover provides you with all-important peace of mind in an industry where cyber-related concerns seem high on the priority list.

Drivers’ Negligence

This kind of cover provides protection for your business should it become liable for any damage to staff driven HGVs or other business-owned vehicles. Such material damage caused by the negligent acts or omissions of staff or any temporary workers of the business.

Despite the fact that Drivers’ Negligence is not a legal requirement, it should still be high on your list of to-buy insurance covers. If you supply drivers as part of your service, it is common to see clients requiring that an adequate Drivers’ Negligence cover is in place.

Personal Accident

This one is nice and easy. It provides financial aid on behalf of your business to members of staff who have suffered an injury within the workplace.

Let’s look at an example. Should an employee of your business, again, trip and fall over a loose wire. If they are unable to attend work due to the injuries sustained from this workplace accident, your Personal Accident Insurance is designed to pay out compensation for any loss of earnings.

Directors and Officers

This insurance protects Directors or Officers who may face allegations of wrongful acts in relation to their management of their business.

As a Director or Officer of a business, you may be held liable in a personal capacity in a variety of circumstances. Directors and Officers liability insurance, in essence, protects both you and your fellow directors and shareholders from any personal loss arising from such claims.


What we do here at Qdos

At Qdos, we are able to arrange all of the above insurances for your business. Some of these covers can only be purchased in conjunction with other policies, but many can be arranged on a standalone basis. Offering you state of the art cover for your business that gives you that bit extra, our insurance policies are underwritten by Tokio Marine HCC, giving us the backing of a global insurer and giving your business the security it requires.

Our range of policies:

Our Professional Indemnity Insurance provides cover for a variety of cyber risks. As referenced above, this includes data protection and cover for hacker damage.

With our Public Liability Insurance, you have the option to include additional cover for Employers Liability and Drivers’ Negligence.

Most importantly, our cover can be purchased for recruitment agencies online. Need more? We are ready to adapt our policies, if necessary, with a bespoke form of coverage that best suits your business needs.

For more information on the range of policies we offer here at Qdos or to discuss bespoke coverage, please get in contact with a member of our team.

Qdos Contractor
Written by
Qdos Contractor
Award-winning providers of insurance for the self-employed, Qdos are the leading authority on IR35, offering industry-leading employment status services to ensure the flexible working industry thrive. Qdos are the Best Contractor Insurance Provider 2022 and won the Queen’s Award for Enterprise in Innovation 2022 and 2017. 

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