Employment Agency Insurance

Employment agencies are responsible for connecting the world’s best employees with the top employers in the world. It might seem like an easy task, but most Canadians really do not understand how difficult it can be. On top of that, there is always the potential that you’re going to match the wrong individual with the wrong company. That could lead to significant problems for both. In return, that would blow back on you and your company. This is why it is essential to invest in an employment agency insurance policy. Despite doing your very best to ensure perfection, anything can happen. Within the blink of an eye, your Ontario business could face a hefty lawsuit.

Keep in mind, an employment agency is one of the many businesses in Canada that require professional liability insurance prior to servicing the public. So you should not be surprised if your clients require you to purchase a specific limit of insurance prior to recruiting through you.

If you were hit with a liability suit, would your current insurance cover the cost? Would you be able to protect your workers? Could you still care for your family? If the answers are no, it is time to equip yourself with additional employment agency professional liability insurance. With the right insurance, you’ll be able to eliminate your worries and focus solely on matching the right people with the right companies!

employement agency professional liability insurance

Additional Coverage Options

When it comes down to it, employment agencies need insurance and they need plenty of it. As someone who is running an employment agency, you’re going to need to have some type of professional liability insurance. If you do not, you’re not going to be able to lawfully run your business in Ontario. Just remember that there may be other insurance policies that can be beneficial for your business. Some may be necessary by law, but others you may feel are necessary personally. Below, you will learn about some of the other insurance options that are available to you.

Property Exposures Coverages

Since you’re running an employment agency, there is a good chance that people are going to be running in an out of your premises. Your place of business is absolutely vital for your company and its long-term success. Property insurance can protect your company in the event of a business fire. The amount of insurance needed really depends on the overall value of your property. If your place of business is worth $100,000, it is best to acquire at least $100,000 aggregate. This will cover the costs completely.

Employee Dishonesty Coverage

You’ll also want to think about protecting your company with employee dishonesty insurance. After all, your workers are going to be working with a lot of confidential information. They may be required to handle the private information of potential customers. And, they may have access to your company’s funds and bank accounts. This insurance can protect your company from internal and external threats. While it depends on your company and its risks, acquiring at least $1 million per claim is highly recommended.

General Liability

While professional liability insurance for employment agencies is great, it is not going to cover everything. This is why you may also need general liability. This type of coverage offers more protection, including liability caused by damage to someone else’s property. This coverage will also protect your company from the loss of electronic data in many cases. Behaviors and actions of temporary staff will also be covered. While it is possible to acquire more, it is recommended that you get at least $1,000,000 per occurrence and $2,000,000 general aggregate in terms of limits.

Cyber Coverage

There is a good chance that your company is going to be storing your clients’ information on a server or in a database. If something goes wrong, this information could be stolen and you could be held liable. This could potentially ruin your company in the long run. Some companies have $100 million in covered for cyber liability. Since your company probably isn’t as big, you might need as much. A $1,000,000 limit per occurrence should suffice for most employment agencies in Ontario.

How much does Liability Insurance (PLI) for Employment Agencies Cost?

When it comes down to it, most business owners will do their best to minimize the costs. You should never skimp on insurance. So, how much is it going to cost? The numbers can fluctuate depending on numerous factors, including the size of your business. General liability insurance can start as low as $35 per month, but you shouldn’t stick with the lowest insurance.

Truly, there are numerous factors that can play a role in determining your overall recruitment agency professional liability insurance cost. With this in mind, the figures above may or may not be completely accurate. The very best way to determine how much you’re going to need to pay is to request a quote.

How to Apply for Insurance

Applying for Professional Liability Insurance is fairly easy. You have 3 options:

  1. Request a Quote by clicking here or by clicking the button below.
  2. Call: 1-888-480-7677 and speak to an insurance advisor regarding your business.
  3. Send us an email with your insurance requirements. A licensed broker will contact you shortly.

 

We’ll get back to you as quickly as possible!

get a quote now

 

FAQ before purchasing employment agency professional liability insurance

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Other professions we also provide insurance for:

Academic Testing Centers
Accident Investigation
Accident Prevention Consultants
Accountants
Actuaries
Adjusters
Adoption Agencies
Advertising
Advertising Agencies
Advertising Agents & Services
Aerial Mappers
Agents
Agrologists
Agronomists
Alarm Monitoring Services
Allied Health Professionals
Alternative Dispute Resolution Firms
Alternative Energy
Answering Services
Anthologist
Anthropologist
Appraisers
Arbitrators & Mediators
Arborists / Tree Surgeons
Archaeologists
Architects
Architects & Engineers
Architectural technicians and technologists
Associations
Attorneys
Auctioneers, Auction Houses
Authors
Bailiffs
Blueprint & Photocopy
Boat Registrars
Bookkeepers
Broadcasters
Building Designers(Bill 124)
Business Brokers/Managers
Business Consultant
Business Enterprise Agencies
Business Training Courses
Cabling Designers
Camera & Photo Supply Stores
Careers Advisory Service
Catering Consultancy
Cereal Growing Advisors
Chambers of Commerce & Trade
Charities
Chiropodists
Chiropractors
Civil engineers
Claims Adjusters & Administrators
Collection Agencies
Commercial Printer
Communication Consultants
Company Formation
Company Search Agency
Conference & Event Management
Conference Facilities & Services
Conservation Consultants
Conservation Organizations
Consultants
Consumer Organisations
Contest Managers
Contractors Accountants
Convention Planners
Copywriters
Counselling & Advice Services
Court Reporters
CPA/CMA
Credit Reference Services/Bureaus
Custom House Broker
Customs & Forwarding Agents
Data Processing Services
Database Managers
Day Spas
Decorators – Interior
Dental Laboratories
Designers
Dietitians (Consulting)
Directors
Directors and Officers
Documentary creators
Employment Agencies
Employment Agencies/Recruiters
Employment Placement Agencies
Energy Audits & Assessments
Engineers
Environmental Engineers
Event Planners
Excess & Umbrella Liability
Filmmakers
Fitness Clubs
Foreign Legal Consultants
Holistic Professional
Home inspectors insurance
Immigration Consultants
Independent Contractor
Industrial Designers
Information Technology
Interior Designers
IT Contractor
IT Specialist/Technician/Programmer
Journalists
Lawyers
Lawyer’s Excess Professional Liability
Long Term Care
Management Consultants
Mediators
Medical Clinics
Medical Devices
Medical Professionals (Malpractice Insurance)
Medical Related
Medical Student Malpractice Insurance
Mortgage Brokers
Multimedia designers
Naturopaths
New Media
Occupational Health and Safety Consultants
Paralegals
Photographers
Placement Agencies
Podiatrists
Private Investigators
Process Servers
Product Designers
Professional Entertainers
Professional Organizer
Professionals Liability
Project Managers
Property Managers
Publishers
Publishers and Printers
Quality Control Consultants
Recruiters
Recruitment and Employment Agency
Recruitment Consultants
Research & Development
Roofing Consultants
Safety Engineers
Service Organizations
Solar & Wind Farm Engineers & Consultants
Spa Package
Structural Engineers
Sub-Contractor
Surveyors
Tax Prepares
Technology Companies
Therapist Professionals
Town / Urban Planners
Training Providers/Trainers
Translators etc.
Travel Agencies
Travel Agents
Travel Agents, Tour operators
Web Designers
Web-Site Designers
Workplace Engineers & Consultants