Staffing firms have unique liabilities and coverage needs that need to be addressed. It is smart to get an insurance plan that is tailored to your business’s particular risks, requirements, and budgetary limitations. Learn about key policies of vendor management services you should consider.
General liability provides coverage from certain lawsuits filed by vendors, customers, clients, and other third parties. Covered claims include when you are sued for:
- Causing physical injury
- Damaged reputation
- Property damage
Employment agencies store a lot of private data on their networks. You likely have the personal information of thousands of employees. Cyber liability coverage gives you protection when this data is breached.
Sudden incidents can incur damages to your property. Property insurance covers you in the event of:
- Certain weather events
Property insurance reimburses you for the monetary value of lost or damaged property. This depends on how you value your supplies, equipment, and other forms of property.
This is just a snapshot of vendor management services that are crucial to keep your staffing firm up and running in the wake of unexpected turmoil. Look into your particular needs and unique exposures that you face. Make sure you get coverage that is designed to keep you protected.