For decades, employers have complained about the considerable money and other resources they must devote to finding the right talent for critical positions. For that reason, staffing agencies play an important role in the modern marketplace. Not only do they help companies find top-notch workers, they often specialize in educating employers about human resources issues. Still, staffing agencies often encounter unique legal risks from both companies and contract workers. If you are looking for a sure-fire way to protect your staffing agency, purchasing a comprehensive staffing agency insurance policy is probably an effective strategy.
Choose the Right Agent
Since staffing agencies face special legal liabilities, you simply can’t entrust a generic insurance agent with your firm’s insurance needs. Instead, you must collaborate with a partner who has extensive experience rooting out risks and managing them.
Opt for Comprehensive Coverage
Since they are businesses, staffing firms need the same type of general business insurance that other companies rely on to stay out of the legal hot water. Still, staffing firms often much purchase additional coverage to meet their unique needs, including:
- Professional liability coverage
- Breach of duty protection
- Director and officer liability insurance
To remain competitive in the staffing industry, you must protect your company’s assets and reputation. Usually, investing in a comprehensive staffing agency insurance policy is the best way to accomplish both feats.