It used to be the case that once you’d found the right person for a position then your duty as a recruiter was complete. You and your end client would move onto fulfilling the next role, but as terms become more and more onerous in the contract space there’s a few important points regarding insurance that you need to be aware of.
Whilst many of the staff here enjoy a physical activity or two, it’s a sad fact that most of us spend our days seated (whether in a car or at a desk). As such, it was a pleasure to live vicariously through the Herculean efforts of two groups of cyclists closely affiliated with Kingsbridge recently. We were delighted to sponsor both the 3 Cycling Amigos of Pennon Group on the well-trodden but still fearsome path from Jon O’Groats to Land’s End, as well as our good friend Giles Derry of Dunedin and his crew Lost! Again on their almighty journey from Locorotondo in Italy to St. Tropez in France.
In the event of the UK public’s decision to leave the European Union, Kingsbridge would like to put on record our thoughts. In a recent survey conducted with our contractor client base the majority of those questioned preferred to remain in the EU. As we now know, this will not be the case. Nevertheless, we do not foresee a British exit having any major impact on our clients, all of whom are headquartered/based in the UK.
Many contractors that we spoke to were forthright in their belief that their unique skillsets and job suitability will remain in demand in the event of a Brexit, and we support that assertion. As one particular respondee noted: “The right skills are always required.”
With regard to our corporate and commercial clients, we see no major impact to the UK water industry in the immediate future, although there may be less regulation over time once a Brexit is complete. For the insolvency practitioners we work with we also expect very little in the way of change.
Whilst it is difficult to predict the consequences, positive or negative, of a Brexit at this early stage Kingsbridge will stand behind all of our clients and partners whatever the future holds. Over time we may see some large employers and users of freelance contractors (banks, the aerospace industry, the automotive industry and so on) impacted by loss of business which may in turn have an impact on their use of contractors, but it remains too early to tell. The freedom to set our own terms that a British exit allows our country could well lead to an economic landscape stronger than we have ever experienced before.
Kingsbridge will continue to watch as this historic, once-in-a-generation event unfolds, and we will support every single one of our clients as required.
In or out? Remain or leave? The question is a simple one, but rarely has there been such fevered debate around any topic as there has been about the upcoming EU referendum. With just over a week to go until the votes are cast, it would seem that no one is entirely certain as to which way the vote will swing. A damning indictment of two poorly orchestrated campaigns both beset by dubious propaganda and petty infighting, or simply a true reflection of public hand-wringing over the most important political and economic decision in a generation?
It’s not for us to say which way we’d like the vote to go, but it’s imperative that we give our clients a voice. Contractors, freelancers, and the self-employed make a huge contribution to the UK economy but it seems little consideration has been given to how a Brexit would impact their way of working. As David Cameron recently noted, “the self-employed are a key part of our long-term economic plan for the country” and we believe their views should not be ignored.
We recently sent out a survey to our customer base asking a few key questions. Will they be heading to the polls? How will they be voting? Are they worried about the impact a Brexit would have on their jobs and businesses, or are they looking forward to a new dawn?
LinkedIn can be invaluable for contractors, particularly in terms of advertising your skills and services and being visible to hiring managers and recruiters in your sector. However, there’s more to LinkedIn than just uploading your CV, leaving it there and hoping somebody spots it. We’ve pulled together some top tips for making sure your profile is at the top of searches.
The role that women play in the freelancing and contracting community has been undervalued for some time. With a recent report confirming the fact that more working mothers are now choosing to become freelancers, we were delighted to see Victoria McDonnell’s recent article over on the Brookson blog celebrating the fact.
Dunedin backs secondary buyout from Livingbridge
1st June 2016
Dunedin, the UK mid-market private equity house, today announced that it has backed the buyout of Kingsbridge Risk Solutions (“Kingsbridge”), an insurance broker for contractors and corporates. The transaction, sees Livingbridge, the mid-market private equity firm that backed Kingsbridge in January 2014, fully exit the business.
This is Dunedin’s second investment in the financial services sector this year, following the buyout of Alpha Financial Markets Consulting in February 2016.
Founded by the current CEO Steve Wynne in 2001, Kingsbridge is the UK’s market-leading provider of insurance services that are tailored to meet the needs of contractors, freelancers and independent professionals, as well as the compliance requirements of partners including recruiters and accountants. Working alongside its strong partner network, Kingsbridge covers the broadest range of industry sectors in its market, including aerospace, banking and finance, rail, automotive, nuclear, oil and gas and information technology.
Becoming a contractor after being in permanent, full-time employment can be a daunting step to take, so the last thing you want is someone telling you that you might be doing it wrong. But so many new contractors make the same initial mistakes as each other that you can learn and (hopefully) avoid making them yourself.
At Kingsbridge, we speak to contractors all the time so we’ve pulled together some of the top mistakes they wish they hadn’t made when they were new to the game.
Our customers often ask us why they need a certain type of insurance cover, and we’ve always found that the best way to explain is by giving them examples. As you may already know, here at Kingsbridge we provide a single, easy to manage package of insurance containing all the cover a modern day contractor or freelancer needs (specifically Professional Indemnity, Public Liability, Employers’ Liability, Directors’ and Officers’ Liability, and Personal Accident cover). One of the most commonly claimed on parts of our policy is Professional Indemnity (also know as PI).
If you’ve been keeping half an eye on the back pages recently, you’ll know what happened at Old Trafford last weekend. To cap off an already abject season, Manchester United’s match against Bournemouth was called off just before kick-off due to the discovery of a ‘suspect package’ in the stadium. Unfortunately, said suspect package wasn’t the long-absent free-flowing, attacking football that the club are famous for, but rather a fake bomb mistakenly left behind and attached to wiring in the toilets after a terror exercise in the stadium the previous week.
At Kingsbridge, we often get asked certain questions time and time again. We don’t mind of course – that’s why we’re here. In fact, we thought it might be a good idea to put some of those questions up on the blog so you’ve always got the answers to hand when you need them.
Does the client not cover my insurances?
As you are not a permanent employee of the end client you would not be covered under their insurances unless specifically stated otherwise in your contract. If you make a mistake or damage something the end client is the most likely party to make a claim against you. In addition as a limited company you are your own entity and are not supposed to be under the supervision or control of the end client. Having your own insurance is a key IR35 indicator as it demonstrates you are a bonafide company and fiscally responsible for your own risk.