When searching for staffing insurance for your agency, you may be unsure which policies you should put a focus on. While it’s important to work with an insurance company with a specialization in staffing agencies in order to put together a program best fit for your unique agency, there are a handful of policies that are needed for nearly any staffing agency, no matter your focus.
General Liability and/or Property
Depending on the program you find, these two policies may be grouped together in a Commercial General Liability (CGL) insurance, which includes the coverage of harm to third parties, whether through property damage or bodily injury. This is a vital part of any business, as accidents can and do happen.
Keep in mind that the temporary staff may work for other businesses, but their insurance coverage is your responsibility. Staffing insurance should include Workers Compensation in order to pay for medical bills and sick days.
Professional Liability/Errors and Omissions (E&O)
While this type of insurance policy can be called by either name, both relate to the coverage of claims made regarding professional mistakes such as negligence. In the case of a staffing agency, this problem could arise from an incomplete background check on an employee.
Staffing insurance should include coverage specifically for cases where a dishonest employee is hired out and causes problems for the business they work at. You’ll need to cover for the costs, so having crime insurance is vital.