HR Consultants

A Snapshot of Services We Assist

HR Consultants Exposures and Risks

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Professional Indemnity Insurance

Human resource consulting is so broadly defined, it is not possible to easily define the services and specialties the firm offers. The insured’s professional liability exposure varies depending on the nature of the service and type of clientele that they service. In general exposure can be considered as significant. Some of the more common sources of claims include:

• Breach of professional duty of care (e.g. failure to do a detailed assessment/in depth analysis of the company prior to given advice/consultation);
• wrongful advice;
• negligent acts, errors or omissions;
• unintentional infringement of intellectual property rights;
• loss of documents or data entrusted to the insured; (e) unintentional breach of confidence, privacy legislation or misuse of information;
• unintentional breaches of the Trade Practices Act or specific insurance legislation and/or
• breaches of Data Protection/Privacy legislation.
• Risk management and quality assurance processes used to assist in prevention of potential breaches of professional duty and control of actual breaches of professional duty are critical. Another key element of control is in the area of client engagement and scoping of the work to be undertaken. A clear understanding of the task and services provided may prevent future disputes.

For human resource consulting firms, underwriters/advisers may wish to investigate:

• What steps the insured takes to review work undertaken by staff and whether partners review the reports;
• The contract acceptance process including engagement letters;
• Details of how the firm handles conflicts of interest;
• Quality control and internal checks;
• Procedures to follow at a time of any problematic situation;
• Communication between staff and with customers;
• Record keeping and storage of employee documents;
• How frequently the insured reviews working procedures to ensure they are current and in line with the latest best practice.

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Cyber Liability

• Heavy dependency on digital technology/integrated IT systems;
• Security/privacy breach – presence of large volumes of sensitive personal and cooperate data;
• Data breach – laptops/data sticks being left on various places, emails sent in error, sensitive documents not being properly shredded, back-up hard drives being lost;
• External hacking attacks, internal negligence, deliberate acts, system glitches etc.;
• Electronic data/software loss and replacement cost following a cyber-attack;
• Electronic media liability – including invasion of privacy, libel or slander, infringement of copyright, title, slogan, trademark or service names including domain names, false advertising etc.;
• Business interruption/increased in cost of working following a cyber-attack;
• Businesses held to ransom before systems are released;
• Cyber-threat from interconnected supply chain business partners/outsourced services providers;
• Internal control and other issues – e.g. non-segregation of sensitive data, inadequate user access control/password protection, outdated POS software applications, absence of up to date antivirus software/firewalls, unencrypted data/information/lack of end-to-end encryption;
• Possible presence of older devices/computer systems with outdated operating systems and unsupported software;
• Inadequate training for employees on data security/privacy/cyber risk. No or inadequate background checks conducted on employees/various service providers/suppliers etc.;
• Compliance and control issues – possible lapses on policies, procedures and protocols on cyber security and related matters (if applicable);
• Cyber threat relating to – Bring your own devices (BYOD), download and install personal, or unauthorised software, use of USB or other media devices etc;
• Extra expenses following a cyber incident including forensic investigation costs, crisis management expenses, notification and monitoring expenses, remediation/other extra expenses;
• Brand and reputational damage following a cyber-attack/data breach;
• Security lapses in company web-sites – cyber threat to own hardware and software; cyber threat to visitors of the website;
• Lack of security measures including a combination of technology (e.g. IT security) and physical security at the premises;

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Why choose Hunter Broking Group?

Human Resources Insurance Broker Brisbane:


Hunter Broking Group can assist with Insurance for HR Consultants & Office Equipment Insurance. Through industry specific insurers, your designated advisor has access to a comprehensive range of insurance products that be tailored to suit most human resource management and consulting risks. We can arrange insurance for various segments in the human resource consultants industry including:

• Human Resource Strategy
• Change Management
• Employee Relations
• Training & Inductions
• Procurement & Outsourcing
• Organisation Design
• Productivity Improvement
• Project Management
• Dismissals and Disputes

Hunter Broking Group pride themselves on having a local presence with a national strength, our technical product experience allows us to manage and service human resource insurance products such as:

• Professional Indemnity Insurance
• Public Liability Insurance
• Office Equipment Insurance
• Employers Liability (non government states)
• Electronic Breakdown Insurance
• Management Liability Insurance
• Cyber Liability Insurance
• Personal Accident / Illness Insurance
• Tax Audit Insurance
• Increased Cost of Working Insurance
• Business Interruption Insurance
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Office equipment insurance is a core focus for our advisors, whether we are looking after small computer stations or corporate office equipment, Hunter Broking Group have the experience to provide the appropriate advice for your size and risk exposures. Our experienced brokers can help you get the most appropriate insurance cover by assessing your specific needs and recommending the best value insurance solution for your business, whilst still maintaining the highest standard of cover.

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Information Sources

https://www.lmiriskcoach.com/industries/23510/risk-assessment
https://www.lmiriskcoach.com/industries/23510/hazard-index