World Wide

Understanding the Insurance Needs of Staffing Companies

If you operate a business that supplies personnel to other companies, you are uniquely positioned to nimbly shift with economic changes over time, but you also have highly unique needs when you set up the risk management plan that will help your company thrive long enough to see those kinds of changes. Staffing insurance programs exist to cater to those needs by identifying which coverage types you need to take care of your employees alongside the additional liabilities you take on with regard to both your client and their clients. Providers like World Wide go out of their way to help educate clients about these needs so they can more accurately report information when they need coverage updates.

Assessing Your Needs as Contractor and Employer

Basic protections like workers compensation and coverage for worksite accidents are the beginning of your needs, but depending on the industries you serve, other forms of coverage might be necessary to robustly protect the staffers you send out as contractors. You’ll also need to protect your client and their customers in the event of malfeasance by a hire who turns out to have sought the job in bad faith. It’s unfortunate, but it does happen, and protecting yourself against the consequences of a bad actor’s decisions can be very important for a business that provides workers to others.