Running a staffing agency is a difficult business. One area where this type of business suffers most is from lack of insurance. Staff insurance is incredibly important because there are many areas where you are open to liability. Here is a look at some of the types of insurance that you may want to consider.
- Professional liability insurance protects you against claims for financial loss that may come from the placement of a worker. A claim like this could completely wipe out your company, so it is a staff insurance product every staffing company should carry.
- Employee benefits liability insurance will protect your company from lawsuits arising from errors with employee benefits. Employees take their benefits very seriously, and mistakes can be made when administering those benefits, which is why you need this protection.
- Crime insurance will help protect you if someone you have placed commits a crime against an employer. Despite all your hard work to check out clients and try to find only the best people to hire out, you can’t always know what the people you place will do.
There are many different kinds of staff insurance that you can get for your business. Even though only three types were covered here, it is well worth checking into all of them. You want to protect your business in any way you can because all it takes is on lawsuit to hurt your business.