Like all businesses, temporary staffing agencies are required to maintain certain types of insurance policies to ensure adequate coverage for owners, employees, and customers. Staffing agencies face a unique set of risks, however, that they must assess in order to identify and adopt the most suitable temporary staffing agency insurance policies for their individual needs.
1. More Risks
One thing that sets temporary staffing firms apart is their need to cover more parties than traditional insurance policies typically cover. Firms are responsible for insuring clients––the businesses that turn to them for viable employees––as well as the workers they recruit to pass along to these eager businesses.
2. Unique Needs
No two staffing firms are alike, which means their insurance needs vary drastically. The size of the firm and the type of workers they place can alter the coverages needed in order to avoid legal trouble. Firms placing people in the medical industry, for example, must be well covered, as one wrong move can prove injurious or even fatal.
3. Wider Coverage
Because of the increased insurance needs, staffing firms may come across more coverage options than their fellow businesses. On top of typical policies like general and professional liability, options such as employment practices and employee benefit liability can be equally beneficial.
Temporary staffing agencies make finding a job less stressful for employer and employee alike. To ensure the smoothest experience possible, it’s critical that agencies evaluate their insurance coverage needs and obtain all necessary policies.