Successful professional employer organizations (PEOs) know that the line between who is responsible for an employee’s well being is a thin one. Because it is difficult to navigate, the right PEO insurance policy is vital.
Make Sure Your PEO Insurance Policy Includes These Three Things
As you speak with insurers who specialize in helping PEOs craft the right policy, make sure you ask what must-have coverages are needed. The right insurers should tell you to include:
General Liability Insurance
This will protect your company if someone decides to sue you. It will help pay your lawyers and pay for any damages deemed your company’s fault.
Errors and Omissions Insurance
This more specific policy covers you if a client claims you did not fulfill your part of a deal. It also covers damage that to the client’s business because of negligence.
This covers damage to your business property in the event of a natural disaster, such as wind, flood or fire. The building is covered as well as the contents inside the building, including computers, furniture, supplies and so forth.
To ensure the security of your PEO and the people who work for you, find and purchase the right insurance coverage. A solid commercial insurance policy can protect your company against misunderstandings, miscommunication and accidents.