Staffing agencies serve a very important purpose in the modern business landscape. Workers and businesses alike can struggle to find the right long-term professional relationships. An agency works as an intermediary that connects companies with the workers who will best meet their needs. Naturally, the structure of your business can also create complications when it comes to your insurance. Review these points to learn more about your options.
The Biggest Challenge
One of the challenges of workers compensation insurance for staffing companies is the way employees are categorized. Temporary workers are not technically employed by your business in the traditional sense. This means that you cannot use a standard workers’ comp plan to cover these individuals. Thankfully, there are plans that are structured to meet the specific demands that temp agencies deal with on a regular basis. In addition to workers’ comp coverage, areas that can be important to review for your agency’s insurance can include:
- Policies for any commercial vehicles
- Coverage for directors and officers
- Protection in the event of errors or omissions
Assess Your Options
By taking time to understand how your business differs from companies in other industries, you can start to put together an insurance plan that meets the demands of your line of work. Review the ins and outs of workers’ comp plans for temp agencies to see which option fits best.