Professional Indemnity Insurance for Recruitment Professionals

PI insurance is designed to indemnify the insured for a claim that is first made whilst the policy is in force as a result of a breach of professional duty in respect of the conduct of the professional business in the Recruitment Industry.

This class of insurance is written on a ‘claims-made basis’. This means that the policy provides cover for claims made during the period of insurance in respect of professional services provided after the retroactive date, subject to the terms and conditions of the policy in place at the time. The retroactive date will be specified in the policy schedule.

All PI insurance policies will have a ‘limit of indemnity’ and a ‘deductible’ or ‘excess’. The limit of indemnity is the maximum amount that the insurer will pay for any one claim. The deductible applies for each claim such that the amount of each claim up to the deductible must be paid by the insured.

Recruitment Consultants generally require professional indemnity to comply with professional association requirements, professional standards legislation or to meet the requirements of many clients and/or tender processes

What is typically covered?

• Damages and claimant costs awarded against the insured
• Legal and defence costs
• Claims investigation costs
• Inquiry attendance costs
• Public relations costs

What is NOT covered?

• Intentional damage
• Known claims and circumstances
• Fraud and dishonesty
• Bodily injury / property damage

Protect your business today.

Business Insurance*

There are many moving parts when you run your own recruitment business and that’s why it is important to take a moment to look at how your business assets play an important role in keeping your business going.

If an insurable event like a fire or storm were to wreak havoc and damage things like your office furniture or building (if you own) the financial implications to repair and replace them could be enough to potentially send your business bankrupt.

Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance policy can also cover your portable equipment, and loss of revenue due to business interruption in specified circumstances.

There are a few different types of Business Insurance options to consider when protecting your recruitment business, these may include cover like:

Contents: Covers your business contents or stock if they are damaged in a fire, storm or due to malicious damage or some other defined event listed in the policy

Building: Cover for loss and damage to buildings you own, as a result of an insured event (such as fire, storm, wind).

Business Interruption: Business interruption insurance provides cover for the loss of income and increased costs of operating your business caused by a specified insured event (such as property damage or fire). It is also designed to assist your business to recover from an insured event by paying ongoing expenses (such as wages or rent).

* This information is a general guide only and does not take into account your objectives, financial situation or needs. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.

^The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Cover for a claim will depend on the specific circumstances around the loss and would be subject to the terms and conditions of the policy concerned.