Every business has its own specific risks. The same is true of employment agencies. The specific and unique circumstances of this industry require very particular insurance coverages. Here is what you need to consider with employment agency insurance.
Important Insurance Coverages
Most business insurance policies cover injury, crime and property damage that occurs on your property. The problem with temporary staffing agencies is that most of your employees are not on site. This means that you need to protect your financial interests no matter where the employee is working. Your insurance needs to protect your business when employees cause harm, property damage or are involved in a theft.
These are the common policies to look through:
- Employee Theft and Crime Coverage
- Commercial General Liability
- Professional Liability
- Employment Practices Liability
- Business Interruption Coverage
- Cyber Liability Insurance
- Business Auto Insurance
Choose Tailored Insurance Coverage
Every business has specific concerns. Your employment agency insurance has to fulfill your specific needs. Find a broker who is willing to work with you to create tailored and customizable plans. The unique exposures that your business faces make insurance coverage complicated. You need an experienced agent who has worked in your industry.
Insurance is crucial for all businesses. If you run an employment agency, you are not exempt from the necessary insurance coverages.