Your staffing agency can be exposed to risks that are common to every business, but the industry faces some unique hazards. Adding specialized staffing agency insurance can help you lessen your risk exposure. The following products may round out the insurance coverage your firm needs.
Employment Practices Liability insurance
Employees, your agency’s staff and your clients can be added as insureds for protection against claims that include sexual harassment and wrongful termination. This coverage, created with staffing agency demands in mind, is available as an individual policy.
Umbrella Liability Insurance
Some clients will require that staffing agency insurance include umbrella coverage to supplement the terms of underlying policies. An umbrella policy can provide these important protections:
• An expanded definition of bodily injury
• No self-insured retention requirement
• Coverage for exposures not addressed by underlying policies
Security and Privacy Liability Insurance
Agencies can face concerns for the security of their clients’ proprietary information as well as their own. Coverages can include protection for fraudulent impersonation and security breaches. Professional liability with IT coverage is also available.
Managing the risks that come with working in the staffing field can present special challenges. The right staffing agency insurance can protect the investments you’ve made in people and set the stage for future growth and prosperity.