Medical staffing firms offer a variety of services that can put your company at risk. The types of insurance coverage that you invest in are what protect your company against lawsuits and other claims. Here is what you need to know about the top medical staffing agency insurance coverage.
Workers’ Compensation Insurance
As a staffing agency, you may be required to carry some form of workers’ compensation insurance. The laws may become a little tricky, hence it’s important to discuss your options with an insurance agent or broker. For instance, in some states, your staff may be considered employees of your company, whereas other states may refer to your staff as temp employees.
Professional Liability Insurance
Professional liability insurance protects you if your agency faces accusations of negligence or mistakes. Some claims against companies may include:
- You failed to meet the conditions of a contract
- You failed to hire a skilled employee
- You failed to adhere to the industry standards
Professional liability insurance helps provide coverage for legal fees and defense costs. It can even help provide coverage in case you settle.
Medical staffing agencies require a variety of different coverage options. According to www.manchesterspecialty.com, many firms need customized insurance. Custom insurance provides coverage for a variety of losses and risks.