Staffing companies need a variety of types of temporary staffing insurance to cover the many unpredictable events that may occur with temporary employment. While there are quite a few specialized policies aimed at specific circumstances, there is a list of basic requirements all companies need to cover fundamental issues.
A minimum list for a temporary staffing firm may include:
- General Liability.
- Business Property
- Professional Liability
- Valuable Papers
- Employee Dishonesty
- Employee Benefits
General liability is basic protection against bodily injury, property damage, and more. This differs from the more specific professional liability policy which covers a professional in claims resulting from errors or omissions that occur in the course of the contracted work. This type of temporary staffing insurance is necessary for services such as accounting, law, real estate and other professional areas.
Employee dishonesty liability is an essential piece of coverage in the unfortunate event of theft by an employee of money, securities, or property. This policy can stem the effects of losses a client suffers when one or more employees engage in fraudulent activity.
Valuable Papers coverage covers written, printed, or otherwise recorded documents, including books, maps, films, drawings, abstracts, deeds, mortgages, and manuscripts.
While these policies represent some of the fundamental concerns of temporary staffing insurance, there are more detailed plans available for more highly specialized employment circumstances. Insurance for staffing firms will continue to adapt as temporary employment prevails in today’s market.