By design, staffing agencies have unique needs when it comes to insurance. This type of organization works with businesses across a variety of industries. In turn, each of these industries comes with a different set of demands and risks. Standard insurance policies might not cover everything your agency faces, leaving large gaps where you can fall prey to a number of dangerous claims. To avoid this, consider the specific risks your agency faces and how your insurance can best address them.
Understand the Risks
As reported by the professionals at WWSPI, you need to consider your clients and employees when determining which policy is best for your organization. However, many agencies neglect to take out additional coverage for themselves. A policy that helps to prevent you from being held responsible in the event of an error in an employee’s contract, for example, can be invaluable to protect your company assets when a common mistake creates turmoil. Other points to consider include:
- Coverage to oversee benefits management
- Protection in the event of theft or damage
- D&O coverage for high-level employees
Look Over Your Options
By taking time to evaluate the unique risks posed to your agency, you stand to take out a policy that helps to fully protect your assets. Explore your options and determine what steps you need to take to see the best results.