When looking for staffing industry insurance coverage, it’s important to know that general liability policies may not be written to cover temporary employees or employees that go to work at another client’s location. Finding insurance to specifically cover the unique needs of a staffing company can be important for protecting the financial well-being of your company. In order to reduce your liability, it may be necessary to obtain several different types of coverage that will give you protection for varying types of liability. Finding yourself under-insured in the event of a lawsuit can be devastating to your business. Learning your options and obtaining adequate coverage for your staffing firm may be necessary for remaining financially stable.
Understanding what your general liability policy covers is important in determining what additional coverage you might need. Employment practices liability coverage can protect you in the event of a claim involving discrimination, harassment, wrongful termination, or retaliatory acts. Nearly 75% of lawsuits against companies involve some type of employment dispute, making employment practices liability an important coverage to have. When considering staffing industry insurance coverage, another type of coverage to consider is errors and omissions insurance. This coverage provides financial protection in the event of mistakes made by employees that you hired. If an employee makes a mistake that costs a client a financial loss, that client may seek compensation from your company as the hiring agent. Because staffing agencies are not able to directly oversee employees working in other locations, this can be critical insurance coverage to have. Many other types of staffing industry insurance coverage are available to offer you protection for your unique exposures. Finding the right coverage can protect you from catastrophic financial liability.
If you are looking for insurance coverage for your staffing company, visit World Wide for more information.