Be it increased employee churn or the pursuit of business growth, in today’s market there are a vast number of job vacancies that internal recruitment departments alone face an uphill battle to fill. It’s no wonder that recruitment and staffing agencies have more business than ever—and as such, are looking to get more out of their insurance to cover their array of evolving exposures.
So what should you look for in an insurance partner? We know it can be difficult to cut through the noise and find the information that matters. So we’ve put together five key, clear reasons why CFC is here to provide the protection you need.
Five reasons why CFC is the right insurance partner
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Tailored E&O cover for staffing operations
No insurance provider can provide the right cover without a complete understanding of the requirements for recruitment and staffing. That’s why CFC prides itself on staying ahead, designing our E&O cover to address all key exposures faced by the different types of staffing firms.
As each agency comes with a unique set of exposures, with us you can choose to include non-standard coverages like breach of contract. This provides unambiguous cover for when the insured legally becomes obliged to pay as a result of a claim made against them for when there is a breach of the agreed contract.
We also provide placed personnel vicarious liability, protecting the insured against claims occurring out of any act, error, omission, advice, misstatement or misrepresentation committed by placed personnel.
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Broad appetite
With CFC you get flexibility. We can extend our cover to include any method of placement (temporary, temp-to-hire, permanent and contracts of service), plus any associated consulting or professional services provided by the Insured directly, such as accounting or management/ HR consulting.
We also have a broad appetite when it comes to types of personnel placed. Anything from clerical to construction.
Not only can CFC consider dedicated medical recruitment and staffing companies, but we are also happy to consider accounts where there’s a split of medical and non-medical placements under the same policy.
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Convenience and service
To make things quick and easy, our product comes with a wide range of modular package offerings. In addition to professional liability, you can also include general liability, legal expenses, cyber liability, cybercrime and contents insurance, ensuring businesses can receive wide-ranging protection—without the complexity of purchasing multiple policies.
We can also look at follow form professional liability excess over other markets.
Our express turnaround time of 24 hours on over 80% of submissions is unrivalled in the marketplace. So if it’s convenience and service you need, you know where to come.
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Deep expertise
All our forms for recruitment and staffing insurance have been created specifically for these organizations by our industry specialists.
There’s a lot to be said for having a consistent, dedicated underwriter servicing your accounts. Our underwriting team has decades of experience in this field, and really have seen it all. With us you’re sure to be dealing with someone who knows the right steps forward, backed by the expertise of our wider team.
On the other side of the coin, our in-house claims team has not only the experience but the resource to make things as efficient as possible. Our team is one of the largest in the market, to give you the speed you need.
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Worldwide coverage
All the way from banking and finance to cleaning services, it’s common for recruitment and staffing to cross international borders, with personnel being brought in from abroad to perform the role. Naturally this complicates the exposures of this space, making comprehensive, worldwide coverage a must.
CFC’s true worldwide coverage is built to give insureds peace of mind.
Comprehensive insurance
As the landscape of exposures continues to change, it pays more than ever to go with an insurance provider that offers broad coverage.
Let CFC be your recruitment and staffing experts! If you have any further questions, please email professions@cfc.com.
