Finding the Right Insurance for Your Staffing Agency

When it comes to mitigating liabilities and managing risk, every sensible business owner knows that there are some things that are out of their control. Litigation brought on by a former employee or worker’s compensation filed fraudulently can be handled effectively, but there will always be incidents like these that threaten to temporarily derail your staffing agency’s focus. That’s why it’s a good idea to invest in staffing agency insurance. When you’re shopping for a policy, keep the following in mind.

Unique Hazards

What line of work do your personnel specialize in? Is it health care or industrial work? Don’t choose a one-size-fits-most policy. This will likely leave gaps where you want coverage for unique hazards most. Put in the time and research necessary to find the policy that best meets your needs.

Turnover Rate

You may consider the turnover rate among your employees, too. A higher rate may put you at a greater risk for unemployment filings and other liabilities. A good staffing agency insurance policy may include coverage options for these liabilities.

Consider Your Clients

In addition to surveying the unique risks faced by your staff, consider the clients you’re working with and whether they may entail any unique risk factors. If so, integrated these into your search for an insurance policy.