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I am the nominated operator and licencee of an Employment Agency in Hong Kong. I am currently contemplating subscribing to a professional indemnity and liability insurance in Hong Kong. Do you have offers tailored to the needs of Employment agencies? If that is the case, could you please state yours terms and conditions and what's included in the offer. Besides, I am a Hong Kong permanent resident but a foreigner. As such I occasionally travel back to my home country for extended periods of time. Is the coverage still valid for my organisation even when I am not in Hong Kong? Could you please provide me with more information as regards this, but also as to the best type of insurance to cover the whole agency (and not only me).
CCW Global is able to provide comprehensive Professional Indemnity Insurance and Public Liability Insurance solutions to Employment Agencies in Hong Kong.
Professional Indemnity insurance plans we offer are provided through a number of local and international insurance companies, and will insure you against a customer claim of negligence stemming from the services you offer.
It is important to note that Professional Indemnity Insurance (also known as Errors and Omissions Insurance) is a fundamentally different product than Public Liability Insurance.
Public Liability coverage will protect your employment agency from liability against accidental harm which may befall a 3rd party in relation to your business. For example, were a member of the general public to suffer an accident in your office, a public liability insurance policy will ensure that you are protected against any subsequent claim resulting from that injury.
An employer’s liability to its employees is satisfied through the mandatory purchase of an Employee’s Compensationinsurancepolicy. Similar to a Public Liability insurance plan, should one of your employee’s suffer a workplace injury, or any other injury while performing the normal duties of their employment, an EC insurance plan will cover the costs associated with that accident.
An Employee’s Compensation Insurance plan is a mandatory purchase for all Hong Kong businesses with employees, while both Public Liability and Professional Indemnity plans are optional and are not a legal requirement under current Hong Kong insurance regulations.
With regards to your query on traveling; if you wish to obtain EC insurance outside of Hong Kong you must declare this at the initial insurance application, and will likely have a higher premium as a consequence. Otherwise, CCW Global can offer an array of global health insurance and travel insurance options which will cover you worldwide against the costs of treatment for any injury or illness you may suffer.
CCW can offer tailored business insurance solutions to fit all of your company’s needs. If you would like to request a consultation to speak with an expert CCW Global Insurance Broker simply Contact Us today.
Answered on: 6 March, 2017 15:10
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