Every industry has its own specially tailored insurance. The staffing industry is no different. Staffing agency insurance is an important part of running a business specializing in proving employees to other businesses. There are a few things that this type of insurance can do for your staffing agency.
Many staffing insurance policies are designed to protect you, the employer, against any damage one of your employees or contract workers may incur while working. If a lawsuit is levied against your company by another business due to the actions of one of your contractors, you will be covered with the right policy. Similarly, if a former, disgruntled or rejected employee levies a lawsuit against you due to harassment or prejudicial business practices (perceived or otherwise), a policy could account for that.
There are also policies that help to protect your employees and contract workers. Workers compensation and employee benefits are both available through many insurance companies in order to provide coverage for your employees. These protect them financially in the event of injury, sickness or death (in which case the employees family gets the settlement). Protecting employees should be a top priority for any company.
Getting staffing agency insurance is an important part of running any staffing business. Make sure you and your employees are covered in order to prevent a lawsuit from shutting you down entirely.