Recruitment / Labour Hire Insurance Australia
In Australia, it is quite common to use recruiting companies in order to provide your company with any shortage of manpower you may need. It is possible to hire people on a part-time, full-time, or as-needed basis or even for seasonal positions. If you are a small business that has very few employees, this can be a quick, short-term solution to that problem. On the flip side, if you are a larger company that is hiring for one or more different roles, you can use a labour-hire company to fill in the blanks until someone is offered permanent employment.
Companies that provide these temporary employees are responsible for purchasing recruitment/labour hire insurance. This will protect them, their employees and those who are contracted to do work for other companies. While the businesses that tend to use these type of services hold some liability, the bulk of the responsibility falls on the recruiting agency since they are the ones that have agreed to provide responsible workers to the company in question. In addition, they have agreed to perform all of the necessary background checks to ensure there is little chance of a problem arising.
Examples Of Labour Hire And Recruitment Purposes
Here is a brief list of industries that may require the use of labour hire services:
– Food Service
– Financial Services
It is actually possible for people in all industries to have a need for the services of a labour-hire company. This list was provided in order to give you a general idea.
The Types Of Cover You May Require
– Public Liability
This is insurance that protects businesses when claims are made against them by a third party. So, if someone decides to hire a lawyer and bring a suit against your company, this is the type of cover that will help you pay for legal fees as well as any damages that incur along the way. It only covers incidences where property was damaged or someone suffered a personal injury.
– Professional Indemnity
This is similar to public liability in that it helps protect companies from lawsuits filed by third parties. The difference is that it covers businesses that offer services and advice to others. If there are omissions or breaches that occur over the course of business and someone decides to pursue litigation, this coverage will help you shoulder the financial burden.
– Directors And Officers Liability
This is insurance coverage that protects specific parties while they are serving on the board of directors at a company. When some people file a lawsuit, they name the company and several of its officers as responsible parties. This kind of policy will help protect directors and officers so they are not required to shoulder any of the damages directly. Most of the people who opt for this coverage tend to be from larger companies, but if there is a board at a smaller company, they should take this into consideration as well.
– Workers Compensation
This policy type is there to protect people when they are working on your behalf. Even though you are recruiting people to work for others if they are injured while on the job, it may be your responsibility to cover the damages. The specifics depend on exactly where you are located. It is your responsibility to look up the laws that govern the area you are from to make sure that you are doing as you are required to by law.
Before you open your business and start sending recruits to other businesses, you need to have a broker look over everything to make sure that you have all of the necessary policies in place. In case you do not have what you need, they can assist.
Call Us Today For All Your Insurance Requirements
The last thing that you want is to run an agency without having recruitment/labour hire insurance in place. Not only will this make you financially responsible for anything that occurs, but the financial blow may be so hard that you have to end up closing the doors of your company for good. As someone who is hiring others and sending them to represent your company, it is important that you understand that you are responsible for anything that happens to them – even though they are not a direct employee of your company.
If you are looking to speak to someone about the insurance you need, get in touch with us as soon as possible. We will go over your current coverage and help you make changes accordingly. For an obligation-free, competitive quote, professional insurance advice or more information on how we can help you find the best Recruitment/Labour Hire Insurance solution, please contact one of our expert consultants today!