HR Consultants prime role is to assist the client to identify needs, develop an action plan and facilitate change to enhance the success of their organisation.
Why do Human Resource Consultants require professional indemnity insurance?
HR Consultants are generally involved in:
- Providing an advisory and consultancy service to staff and management on a range of human resources issues, procedures and policies
- Liaising with human resources department staff in ensuring the effective high quality delivery of the services.
- Undertaking internal reviews, coordinating external reviews and advising on related processes as needed.
- Coordinating and participating as a selection panel member in the recruitment process.
- Undertaking quality checks of selection and recruitment processes and reports; liaising with external consultants and management to ensure effective meeting of guidelines and standards.
- Analyzing people relating metrics, trends and making recommendations to management.
- Managing all activities in association with information related to employee perception surveys.
- Working with HR member to ensure effective meeting of organization objectives through collaboration, openness and personal development.
- Keeping up current issues and new developments of human resources through job rotation programs
As a HR Consultant, you need to be careful whilst performing the above duties. Professional indemnity insurance protects you if you become liable for a compensation payment for the financial loss a client claims to have suffered, and any legal costs associated with defending an action.
Public Liability Insurance for Human Resource Consultants
If you or any of your employees visit a customers premises your actions could cause an injury to another person. Similarly, if an accident happens whilst a member of the public comes to your place of business and they are injured you could be held liable. Public Liability Insurance protects you in the event that such accidents occur and a claim is subsequently made against you.
Public liability insurance also covers you if damage is caused to third party property while at the customers business. An example would be if an employee broke a valuable item while making a delivery at a customer's home. The claim to replace the item would be covered by public liability insurance.
Key exposures for Human Resource Consultants:
- Designing an ineffective human resource strategy
- Incorrect Strategic advice
- Copyright infringement/insider trading/plagiarism
- Conflict of interest
- Improper fact verification and/or lack of careful research - leading to misleading information errors in business advice and investment advice and even deliberate dissemination of false information
- Not using the right HR metrics
- Failure to keep accurate payroll records resulting in overpaying the staff
- Hiring unqualified staff
- Employee dishonesty - employees selling confidential information to other firms
- Invasion of privacy, libel, defamation, breach of confidentiality
- Electronic theft of records and confidential information or unauthorised access
Why purchase your Professional Indemnity Insurance through Express Insurance?
With Express Insurance, you can source a PI quote in seconds, and have the option of adding Public Liability Insurance. You can then proceed to buy the insurance and produce your Certificate of Insurance in minutes, or alternatively save the quote back to your email account for buying later.
And we save your details on Renewal of your insurance, making the process of renewing your PI Insurance even easier and quicker.
Throughout your experience with us our team of highly experienced PI specialists are a phone call away!
Please Note: Coverage under the policy will be subject to the particular circumstances relating to a claim and the full terms and conditions of the policy.
PI premiums are determined by your Turnover and PL Premiums by the number of staff under your employ. All insurers charge a minimum premium in both respects.
We believe we have negotiated highly competitive premiums for both classes of insurance, and will continue to monitor premium levels available in the market to ensure this remains the case.
Premiums vary between states as a result of differing stamp duty rates, however our minimum Total Premiums for Professional Indemnity ($1M cover) start from $776 (incl. GST).
For your own protection you should have a minimum level of Professional Indemnity(PI) insurance. In the event that the services you provide for a client lead to a claim against that client they will generally look at claiming against the contractor. PI insurance will protect you in the event that this occurs.
In addition, the majority of jobs you are contracted to do, and most tenders you respond to call for proof that you have a minimum level of PI and Public Liability cover.... You will generally not be considered for a job without it !
We have designed the Insurance application process so it only takes an average of 5 minutes to complete your application. In most cases your application will be instantly approved online, and you can print your Confirmation of Insurance to prove to clients and prospects that you have the requisite cover in place... It's that easy!! All other documentation, such as your tax invoice, policy schedule and wording will be emailed directly to you for your records.
If the policy can't be issued immediately because we require further information, we will contact you generally on the same day.
Approximately one month prior to the renewal of your policy you will receive a renewal reminder email with a link that will allow you to review your previous years cover and renew the policy even quicker!
* We have minimized the number of referral situations so that most applications will be automatically accepted. However, if you do have prior claims or provide services to high risk industries we will contact you to facilitate completion of your application personally with the Insurer.
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We will work with you to ensure that claims are handled in a professional manner and that you get a fair outcome from the Insurer. The first step is to lodge your claim form.