If you own a staffing agency, you know better than anyone that the exposures you face are unique and oftentimes challenging to overcome. While most businesses rely on staffing firms to do the hard work of hiring for them, they are just as quick to blame the firm if a bad hire is made. If a firm operates without staffing agency insurance and finds themselves on the losing end of a liability lawsuit, it could be forced to pay thousands to millions of dollars in damages. A knowledgeable insurance agent can help you avoid such a fate by identifying your firm’s exposures and guiding you towards a policy that will best alleviate them.
A comprehensive insurance policy should cover your firm’s greatest exposures: placement, work performed and services provided. Unfortunately, even if you screen a candidate thoroughly, make them undergo rigorous testing and introduce them to the people for which they will be working, they could still end up being a bad hire. If the company they were hired to work for feels that you hired negligently, you may be hit with a E&O claim or a claim that alleges negligent hiring. Staffing agency insurance will help you pay for legal fees to quietly deal with such a claim and even help cover settlement awards if you lose.
Assuming the best might result in the worst. Prevent the worst from happening by investing in the proper insurance today.