Three years of rapid growth led resourcing specialists Business Partnership Services to require more comprehensive and industry specific insurance. The Maidenhead-based entrepreneurial business was looking to partner with a broker that shared their values and could support their evolving insurance needs. Increased risk with growing legislation had given rise for the need to review BPS’ policies.
One of the Thames Valley’s fastest growing insurance brokers, Macbeth has developed a specialist insurance offer for its recruitment, employment and staffing agency client base. Understanding the complex needs, specific to the industry, Macbeth has the experience to integrate all the required cover into a single, convenient policy from employer and public liability and professional indemnity through to cyber and privacy and vicarious liability, and property cover.
Customer Challenge
BPS’ Operations Director Adrian Conington had worked with Macbeth Director Ben Butler through another business in his portfolio. Aware that the business’ high levels of growth had resulted in changing requirements – and potential exposure to risk – Adrian engaged Ben to provide a full, comprehensive review of BPs’ insurance. As a business that puts people at the heart of its success, Adrian was committed to going beyond simple compliance. Sector specialism was key to help him better understand how he could minimise risk, as an employer and supplier increasingly operating at an international level.
Macbeth’s Solution
Macbeth’s long-standing relationships with the core specialist recruitment insurance providers means their clients can access the best products on the market. Ben and his team implemented a full review across both BPS’ UK sites to fill in any gaps brought about by under-insurance, and also to simplify the business’ existing insurance policies into a single entity.
Ensuring BPS had vicarious liability was key to this, providing the business with protection against any potential negligence, error or omission caused by personnel their team placed. A pitfall for recruiters can be where clients prefer to use their own terms and conditions; agencies need to ensure these contracts meet with their own insurance requirements to avoid any liability.
Ben extended BPS’ insurance beyond its existing EU cover to support the business’ growing activity in new geographies, primarily the USA. Cyber risk was also included in the policy, ever-important for data-rich organisations like BPS.
Client Success
Macbeth’s new policy has simplified BPS’ insurance cover while providing additional features, resulting in better value within the client’s insurance spend. Macbeth’s approach further anticipates and responds to changing policy requirements, preventing the fast-moving business from out-growing their cover and unnecessary exposure to potential risk.
Adrian comments, “Macbeth share our business’ values; quality, excellence, passion and delivery have been consistent throughout our working relationship. We’re confident Ben will always be proactive about ensuring that our most important asset – our people- are protected. This is a complex industry and having the right insurance is about safeguarding our brand and our reputation. Macbeth have been key to this.”
Ben adds, “When you’re a fast-paced, ambitious business like BPS, your insurance needs can change from one day to the next – be it working in a new marketplace, a new sector or launching a new service. Our aim is take the risk out of our clients’ growth journeys, allowing them to focus on running their business.
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