Staffing agencies connect employers with qualified workers, but also take on significant liability risks in the process. That's why obtaining the right 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 works closely with you to develop an insurance plan tailored to meet your specific needs.
Some of the notable exposures currently getting attention in the marketplace are:
Worker compensation insurance gives employees benefits to help recover from work-related injuries or illnesses. It can also benefit employees' families if they lose their lives in a workplace accident. Different factors, such as job risk, claims history, and payroll size, can affect workers' compensation costs.
General liability insurance can help protect your business 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 helps your business 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.
Also known as Errors and Omissions (E&O), professional liability insurance can help protect your business 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.
Industry Coverage Tailored to You
At Mason-McBride, we aim to guide you through selecting the right coverages for your staffing agency. We recommend proactively evaluating your risks and making any needed adjustments before an incident occurs.
The key to protecting your agency is having insurance policies tailored specifically to the exposures staffing companies face. With the right mix of comprehensive insurance in place, you can be confident you've safeguarded your business from the realities of risk.
Why Work With Mason-McBride?
As a locally-owned Michigan business, our clients are at the core of everything we do. We are committed to providing superior customer service and personalized advice and counsel.
But it's not just about insurance. Mason-McBride goes beyond the standard, guiding you through risk review process and offering industry-specific coverage options.
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