Archive for the ‘Staffing Agency’ Category

Does Your Insurance Meet the Needs of Your Staffing Agency?

When you run a staffing firm, your work can sometimes prove more challenging than you’d like. The temp industry is complicated, meaning you can’t always rest on the laurels that other industries do. The contractors employed by your staffing firm fall into a specific status when it comes to employment. This means your traditional plan for workers’ comp and other insurance coverage will not work in the same way. Use these tips to see how you can improve your coverage to fit the needs of your agency. 

Meet Staffing Agency Criteria

Appropriate staffing agency insurance should always address the unique nature of temp work. Since contractors work under your organization and the entities you assign them to, it can be difficult to suss out which insurance plan the workers fall under. By taking out additional protections with your plan, you can be sure that any incidents that occur will not be used against you in legal or financial ways. Additionally, you can protect your employees in the event of injury while on a job. Other points to look over include: 

  • Coverage for directors and officers
  • Protection in the event of an error or omission
  • Option for Individual plans 

Overcome Any Obstacle

Though there are some significant obstacles on the way to success, your staffing firm can easily get ahead with a little forethought. Explore your options with insurance and discover how you can stay protected at all times.

Protect Your Staffing Agency Against Unique Risks

Staffing Agency

When running a staffing agency, you have unique risks that may not be acknowledged by all insurance companies. Many people downplay the risks that staffing agencies face. The experts at https://www.wwspi.com claim that risk management solutions are the best way to address the modern challenges to staffing agencies.

Common Risks

As a staffing agency, there are three main risks. These risks include:

Your employees are essentially your product. If an employee misrepresents his or her credentials, you are liable. Likewise, if a client poses a risk to your agency, you could be liable for anything that occurs to your employee while working for the client. Since you are the technical employer, you would be responsible for workers’ compensation coverage.

Solutions to Risks

The best way to solve the problem of risk is to have a risk management plan in place. First, you need to make sure you have a thorough employee selection plan in place. Do thorough background checks so that there are no surprises. Do the same with your clients. Additionally, you should have a variety of insurance options. Workers’ compensation, general liability and professional liability are only three of the options you may need.

When running a staffing agency, you need to consider the specific risks involved with the company. A risk management plan and insurance coverage are the best protection.