Temporary staffing insurance is an essential part of the industry. Common wisdom dictates that the more people involved in a project, the more potential for something to happen outside of your control— and the statistics agree. However, there are certain risks that grow exponentially when you deal with many people. Here are a couple of the core protections you should require in your insurance portfolio.
The Wrong Side of the Law
Despite the vetting processes you use when selecting your employees, you are bound to make a few mistakes along the way. After all, nobody is perfect. Even if you have complete faith in your screening practices, it might be difficult to convince prospective clients that your systems are perfect. Crime insurance is therefore an essential type of policy. In the worst case, it protects your company from criminal acts perpetrated by your employees. In the best case, it provides peace of mind for your clients.
Who Benefits the Most?
One of your core selling points as a staffing company is probably the economical options you offer for employee benefits administration. Preserve the profitability of this service by carrying benefits practice coverage. It is a standard type of temporary staffing insurance that protects you against losses incurred from actions related to your benefits programs.
There are many other types of temporary staffing insurance. Be sure to identify your major risks and work with a company that understands your industry before signing up for a set of policies.