Staffing agencies contend with major exposures to risk in their daily operations. These businesses should regularly assess their staffing agency insurance coverage. The right insurance provider can help you to obtain policies that cover every stage and eventuality of the hiring and placement processes.
Assess Your Agency’s Present Insurance
The best way to determine whether your agency is protected is to assess the coverage and limitations of the policies you presently hold. Staffing agency insurance should include a commercial general liability (CGL) policy and likely also a professional liability plan. Additional liability plans or endorsements can minimize risks incurred during screening and placement.
Identify Gaps in Coverage
A thorough assessment may identify gaps in coverage that either affect agencies or the workers they place. For example, CGL policies do not cover temporary workers. Additional policies or endorsements may be needed to protect the agency from exposure to risk.
Combine Plans for Complete Coverage
It is possible to obtain insurance plans and endorsements that protect against risks inherent in every stage of the staffing process, from pre-employment screenings to placement, protection against errors and omissions on the part of employees, and the management of benefits and taxes. Secure the services of an insurance provider with extensive experience with staffing agency insurance.