Search Results - coverage

Topic: Insurance Becomes a BIG Issue in Recruitng Business: er and an owner of a few other small ventures, I found out recently that my clients expect a new level of insurance in order to do business with me in any way. Until recently, I have not run into any issue where I felt I needed insurance, but the firms we are dealing with are starting to gear up for protecting themselves from liability by requiring every business to provide them with proof of coverage. And these are not small policies. Now you can look at your business practices and say “I don’t need that type of coverage because I don’t ___________________.” (Fill in this blank with anything such as ‘go onsite’, ‘personally hire employees’, ‘drive for my clients’, ‘have visitors in my home office’, ‘have any paperwork that wasn’t written by an attorney’, etc.) You’ll find out the hard way that you are under insured. In the last 2 months, I have had several clients delay paying invoices because their ‘Insurance Compliance Officer’ had not been notified of me being a new vendor for their firm and the ICO had a list of requirements for me. What a great time to find out that I have a list of things to do in order to get paid monies that I have already earned. Now my receivables get stretched by the time it takes to comply PLUS 30 days! If you are starting from scratch with getting some types of insurance, it can take 2-3 weeks just to get a rate quote. And all of these delays don’t necessarily happen the day that you bill the client. The other delay that comes into play is the time that your invoice sits in Accounts Payable and they are waiting to have the ICO contact you about compliance. I have had 2 invoices go over 120 days out for this issue. Can you imagine how it feels to have a client company owe you $45,000 for over 120 days on a single invoice? I can tell you personally – IT SUCKS! Here is a recommendation: 1) Find a BUSINESS insurance agent that you can get along with and treats you professionally. Ask if they have dealt with recruiting businesses before. You will want to have a first name relationship with this person because they will have more work to do on the backend of your policies than you would expect. Make this person a friend. 2) Plan on a minimum of: • $3,000,000 Liability with $1 mil per occurrence • $1,000,000 Umbrella • $1,000,000 Automotive (in the business name, not your personal policy) • $1,000,000 to 3,000,000 Errors & Omissions coverage (depending on client demands. • Proper amounts of Worker’s Compensation Insurance for yourself and any employees. (In some cases, if you are a sole proprietor clients will let you waiver this – but I don’t think it’s a good idea.) 3) When you start to deal with a new client – call into their Accounts Payable and find out if they have an ICO. Contact the ICO upfront and get a compliance package sent to you. This will save you the lag time in payment when you are invoicing them for services. If you have the above named policies and they pop up with wanting more – explain what you do for their company and ask if they can waiver down your expected coverage’s. Sometimes the ICO can do this – sometimes they look at their jobs as to be very firm and you won’t get any flexibility. But it’s worth trying. I have had some requirements lowered for me when I’ve asked. Typically a client is going to ask for a form from your insurance company disclosing your coverage and naming them as an ‘Also Insured’. A picky ICO will have the EXACT phrase or address that they expect to have on this form. I had one where I had the local office address for my client and the ICO wanted the PO Box for the corporate office on the form. (This is when having a friendly relationship with you agent comes in handy.) It had to be changed and my agent had a new version of the form for me in less than 2 hours. My wife is a health insurance agent – so I’ve heard enough horror stories to understand the value of insurance. I do feel over insured for the type of services I perform, but I also sleep better at night understanding my coverage. And I really like getting my invoices paid! JR Fent IT Recruiter www.jrfent.com…; Added by JR Fent at 1:38pm on August 11, 2007

Blog Post: What Is Flat Fee Recruitment?: So you’ve got a position you’re recruiting for? There are several Recruitment Solutions available in order to fill your position, and this handy little…; Added by Emily Lennox at 3:41am on April 4, 2017

Blog Post: Psychiatrist needed /DC area: ALMR INC is seeking part time or full time psychiatrist . You will provide psychiatric services via a Virtual Behavioral Clinic, and some face-to-face modalities in an Outpatient setting for military…; Added by Leida at 11:07am on May 20, 2008

Comment on: Topic 'Who do you agree with?': f information about your neighborhood, or even your block, assembled by a computer. More here.…; Added by Maureen Sharib at 6:29am on April 13, 2009

Comment on: Topic 'IT - Consulting - JAVA, PHP, C#, .NET, QT, etc, etc.': ASIA (Malaysia, Singapore,Indian,Dubai,Indonesia,Thailand, Philippians) Salary Range Placed: 1000MYR to 10,000MYR Years Recruiting: Since 4 Years in INDIA, Last 6 Months in Malaysia,Singapore,Dubai. Preferred Work Capacity (# of orders at once): Email: hameed@jobsmount.com Phone #: 0060102929166…; Added by Hameed Shaik to Recruiters Looking For Splits at 9:22pm on August 4, 2009

Comment on: Topic 'Generalists': sultants/Generalists Geographic Coverage: US - Nationwide Salary Range Placed: Base of $50k to $130K Years Recruiting: 12 Preferred Work Capacity (# of orders at once): 5 Email: sandy@sandlercareers.com Phone #: 832-515-3725 LinkedIn Profile: http://www.linkedin.com/in/sandywhite…; Added by Sandy White to Recruiters Looking For Splits at 3:05pm on February 9, 2009

Comment on: Topic 'Generalists': ES, PHYSICIANS, NURSES Role Specialization: Generalist Geographic Coverage: US - Nationwide Salary Range Placed: Base of $55k to $200K + Years Recruiting: 5+ Preferred Work Capacity (# of orders at once): up to 6 Email: shultzrecruiting@yahoo.com Phone #: 754-234-8711 LinkedIn Profile: http://www.linkedin.com/in/julieshultz…; Added by Julie Shultz to Recruiters Looking For Splits at 3:19pm on February 9, 2009

Comment on: Group 'Recruiters Looking For Splits': ants, Engineers, Executive. Geographic Coverage: United States & Canada Salary Range Placed: $50k - $350k Years Recruiting: 16 Preferred Work Capacity (# of orders at once): 6 Email: jh@ahgco.com Phone #: (248) 577-1170 LinkedIn Profile: www.linkedin.com/in/jjholliday Twitter: Skype: Notes: We have a very comprehensive database and referral network.…; Added by John Holliday to Recruiters Looking For Splits at 11:45am on February 25, 2009

Comment on: Blog Post 'Are You Recruiting Like Elon Musk? SpaceX CEO Reveals Hiring Secrets': proves the thesis that recruiting isn't rocket science is a universal truth (no pun intended). And because Elon Musk is worthy of a 60 Minutes coverage within the last couple of weeks, I think it's at least worth featuring here, too.…; Added by Matt Charney at 9:23pm on April 9, 2014

Blog Post: Olympic Pride Brightens Up the Workplace: With the end of the Olympics quickly approaching it has become apparent that the games have instilled a new found sense of pride in fellow Canadians in what has been a dismissal few years. Those who…; Added by Sandra Gallacher at 4:12pm on February 25, 2010