Every major industry needs liability insurance. Most professionals in any given industry are good at their jobs, and marketing efforts probably focus on their unique skills involving accounting, engineering, or web design. Of course, there are other aspects to a business. Everybody makes mistakes on occasion, and if you aren’t covered with insurance, a huge financial struggle could follow for a business. Like any other workforce sector, temporary workers need to be safe too. That why there are policies to deal with temporary staffing insurance.
The Importance of General Liability Insurance
When accidents happen and people get hurt, general liability is the policy designed to cover those situations. Whether the issue is property damage or a personal injury, a good liability policy will help clean up the mess as quickly as possible. This is essential for situations like a motor vehicle accident, but it could also cover a customer falling on a slippery warehouse floor and breaking an arm. If a temporary employee under contract falls or causes someone to be hurt on a job, that liability may fall under a temporary staffing insurance package. You should know that there is usually a deductible with this type of policy.
The Basics of Professional Liability Insurance
Errors and omissions insurance quite literally refers to mistakes made in services given, or things left out of services given which allegedly cost a client money. This could mean a contract wasn’t valid, or a shipment didn’t get sent in time. Such temporary staffing insurance policies are available for most temporary employees with the exception of doctors and dentists.
Staffing firms have been placing people jobs for decades. The industry has changed, as the business world has changed continually. With greater regulation and more litigation in recent decades, a staffing firm, like any other company, needs to protect its own interests. That’s where staffing insurancecomes into play. This is a unique industry, and at one point, there were no insurers catering to the industry. That has changed. Now there are full service providers offering a variety of policies:
Employment practices liability
Employment benefits liability
Direct hire/personnel consultants liability
Employment Practices Liability Policies
This covers a lot of ground and has become more important in recent years. It protects the staffing firm against claims of wrongful termination, discriminatory actions in the workplace, as well as sexual harrassment. It covers employees and applicants who make claims against the staffing firm as well as for employees or contractors put in client’s work place environment. This is an essential piece of staffing insurance.
Why the Staffing Industry is a Unique Insurance Challenge
One reason the staffing industry is unique is because of the differ levels of employees. There are permanent employees, contract employees who have a chance to get hired permanently, and then there are contract employees who clearly temporary. Because the staffing firm is placing three types of employees under the supervision of another firm, insuring each employee has its challenges. A respected insurance company is the best bet to ensure minimum effects from any tort claims.