Like any other business, staffing firms require certain insurance policies in order to operate effectively and legally. Whether you are the owner, employee, or customer of a staffing firm, understanding some of the basics about available insurance coverage helps ensure a positive experience and long-lasting success.
1. What It Is
Staffing firm insurance is necessary for any agency that specializes in placing workers with companies either temporarily or permanently. Staffing firms require policies that protect the bodies, reputations, and pocketbooks of all involved parties.
2. How It Works
While insurance coverage for staffing firms may closely resemble that of other similar businesses, staffing firms must also maintain coverage for their clients––the businesses who rely on the firm to find good employees––as well as the workers they recommend to those clients. Supplemental policies ensure that these additions remain adequately covered.
3. What It Offers
Risks vary from firm to firm, but most staffing firms require general liability insurance, property insurance, and workers’ comp insurance. Other helpful options include professional liability, which helps cover legal fees, as well as the self-explanatory auto, cyber, and crime liability policies.
Most businesses require insurance to protect owners, employees, and customers from undue harm, payments, or lawsuits. In order to ensure optimum coverage, staffing agencies must pay close attention to all available policies and choose the ones best suited to their individual needs.