Professional staffing firms provide people and companies with an invaluable service: connecting job seekers with companies needing temporary assistance in a wide range of employment sectors. The very nature of the staffing industry exposes a temporary staffing firm to multiple risk factors. Insuring your company against these risks protects your business from potential losses incurred through conducting your day-to-day operations.
Going Beyond General Liability Insurance
General liability insurance is a requirement for any business, including professional employment agencies. This type of insurance safeguards against potential liability losses. However, the risks for staffing firms extends further than the coverage provided with general liability insurance. PEO professional liability insurance is designed to meet the needs of the staffing industry. As the experts at https://www.wwspi.com/ indicate, PEO professional insurance provides coverage for losses in the following risk categories:
- Services to clients, including those that do not involve direct staffing
- Job performance issues that result in a financial loss to the employer
- Losses that arise due to not being able to provide a worker or improper worker screening
Operating a temporary staffing firm exposes your business to a unique set of liabilities not covered under a general liability policy. Procuring an additional professional liability policy ensures you are covered in every aspect of doing business.