Insurance for Executive Recruiters
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What Insurance Do Executive Recruiters Need?
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Business Owners Policy (BOP) protects you from business liability and property damage at a lower cost. BOP covers claims resulting from fire, theft & disasters. BOP also covers claims of bodily injury or property damage during your business operations.
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Frequently Asked Questions
Why do Executive Recruiters need insurance?
Executive search services provide search, recruitment and placement services for clients in need of executives and senior management personnel. That’s a big responsibility, and any mistakes done by your business could result in a lengthy lawsuit that could cost you thousands of dollars, not to mention the settlements you have to pay if your clients win.
Your insurance will pay for everything that your policies will be able to cover.
What risks do Executive Recruiters face?
Executive recruiters are responsible for recruiting members on the higher position in an organization. This means that any mistakes done by your business could post a huge risk. Here are some of the risks executive search services can face
- Mistakenly sending candidate credentials to his current employer; thus, alerting the current employer of the candidate’s job search.
- Failing to perform proper screening methods. The company discovers that the top executive you hire is unqualified for the position.
- If someone trips and falls at your office and is injured, your business will be sued for the damages.
- If your business experiences fire, theft, vandalism or weather events you’ll need a lot of money to recover from the loss of such perils.
These are some of the many risks that your business can face.
How much does Insurance for Executive Recruiters cost?
There are various criteria that determine the cost of your insurance. The most common things insurance companies look for are the following:
- The type of services you offer
- The properties you own
- The number of employees you have
- And many other criteria.
To find out what your insurance cost, apply for a free quote online or give our customer service representatives a call.