Staffing agencies connect employers with qualified workers but also take on significant liability risks in the process. That's why obtaining insurance coverage is critical for any agency's success and protection.
The good news is that getting the insurance you need as a staffing agency owner doesn't have to be complicated. With some key coverages in place, you can operate with confidence knowing you've got your agency and your clients covered.
Typical Coverages for Staffing Agencies
Whatever your exposure, whether you work in temporary staffing, recruiting, or executive search, Mason-McBride partners with you to develop an insurance plan designed to consider your needs.
Some of the notable exposures currently getting attention in the marketplace are:
Workers Comp Insurance:
Temporary staffing agencies have unique workers’ compensation risks. Worker compensation insurance can provide benefits to help employees recover from work-related injuries or illnesses. It can also benefit employees' families if they lose their lives in a workplace accident. Factors such as job risk, claims history and payroll size can affect workers' compensation costs.
General Liability Insurance:
General liability insurance can help protect your staffing agency against claims for bodily injury, property damage, advertising injury, errors, or omissions. In addition, without this coverage, you may be responsible for paying out of pocket for legal costs, such as attorney fees and settlement amounts.
Cyber Liability Insurance:
Cyber liability insurance helps your staffing firm respond to a data breach if identifiable information gets lost or stolen personally. In addition, many policies will include extortion coverage, business income protection, and systems failure, all caused by a breach.
Professional Liability Insurance:
Also known as Errors and Omissions (E&O), professional liability insurance can help protect your staffing company from consequential loss resulting from negligence claims associated with your professional service. Professional liability claims involve allegations whereby the customer alleges they lost revenue or incurred expenses because of the negligent rendering of professional services.Â
Why Work With Mason-McBride?
At our locally-owned Michigan business, we understand the importance of protection that suits your staffing organization. That's why we take the time to get to know you and your insurance needs to help you make an informed decision on your coverage.
For over 100 years, the Mason-McBride Insurance name has supported businesses and individuals through unexpected challenges. Today, we are among the most respected names in insurance. We strive to find the right solutions for you, your family, and your business. Your satisfaction is very important to us.
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