Staffing agencies understand that the business of providing staff and services to their clients comes with a ton of risk. Any mistakes made by the staffing agency or the workers they provide could potentially result in financial loss for their client, which means that the staffing agency could be help liable. In order to reduce this risk, it is important for staffing agencies to acquire staffing insurance.
The risks and liabilities for staffing firms can be complex, but here are a few basic types of staffing insurance that you should consider.
1. Professional Liability
Professional Liability insurance will help protect your business for any financial loss resulting from work performed by a contract employee, mistakes or failures to provide or place employees, and mistakes made while providing professional services.
2. General Liability
This will help protect the staffing firm against allegations of bodily injury or property damage. It can also help protect against:
- copyright infringement
3. Abusive Acts
This policy protects against allegations of abuse, including the following:
- sickness or disease
- physical injury
- mental injury or anguish
- shock or fright
Reduce Your Risk and Increase Your Service
The simple nature of providing contract workers puts staffing agencies at risk. Staffing insurance will help you manage this risk so you can focus your time and energy on providing the best staff and services to your clients.