The staffing business is as diverse as the professionals and industries it serves. However, once you take a good look at the most common risks, you begin to see trends appear. These frequent causes of loss require adequate protection, so make sure your staffing agency insurance company has experience with the following types of policies.
Liability insurance is an essential part of almost any staffing agency’s portfolio. When you’re advising companies on who to hire and how to run their businesses to avoid loss, you want to make sure you’re covered in case your advice backfires. All too often, companies try to use staffing agencies as scapegoats: Be prepared by carrying the most complete coverage you can find in this category.
Another common risk in the industry is landing afoul of employment law. As such, staffing agency insurance portfolios often include employment practices liability insurance. You share the rewards and the risks of employment, so make sure you’re covered if someone accuses you of:
- Discriminatory hiring
- Lack of adequate promotion
These are just a couple of examples of the types of policies offered by a focused staffing agency insurance provider. Make sure all of your core risks are covered when you shop around for insurance, not just the loss cases listed here.