Insurance staffing agency needs are unique. A specialty insurance company will best serve the requirements of employment service businesses.
Your temporary placement service provides skilled individuals to clients. These workers are your employees, and you retain the liability for those employees’ actions even while they are at worksites. You are also responsible for protecting your employees from workplace injuries and illnesses.
What Types of Insurance Do You Need?
Staffing agencies provide a wide variety of workers and face different risks based on their business operations. Some vital coverage types include:
- Errors and Omissions – This type of insurance covers claims such as accusations of negligence, failure to fill a position in time, and mistakes made while working.
- Workers’ Compensation – This will protect you from employee lawsuits and medical expenses related to work injuries or illness.
- Cyber Liability – This is coverage designed to help with costs related to data breaches. Hackers often target staffing companies due to the large volume of sensitive information they collect and store.
- Property Insurance – This covers damage to business equipment and other assets both inside and out.
- General Liability – This type of policy provides coverage against third-party injuries and property damage.
You will want to find the right insurance for your staffing agency. To understand your specific needs, consult an experienced insurance agent to ensure that you have the best coverage for your business.