The Essential Laws of Options Explained

Considerations for Staffing Company Insurance In order to be able to conduct your staffing business, there is a need to have adequate business insurance for your staffing company, and you should have this even before you send out your first temporary employee. There is a need for staffing companies to purchase the basic Worker’s Compensation and General Liability Insurance. Together with the basic insurance, it would be good for companies to also purchase a G/L policy that will include Professional Liability Coverage and Errors and Omissions(E & O) coverage. The biggest challenge faced by a staffing company is finding an insurance company that truly understands the staffing business. Working with someone who understands you business will help you secure proper insurances for your business. There is a challenge when underwriting an insurance policy for a staffing company and that is the fact that you will be sending out temporary or contract employees to remote, third party client sites, which can cause you to lose direct control over these employees. The risks are easier to assess if these employees simply worked for you at your location. But, in the staffing industry, your direct employees work at client locations, which adds risk from an insurance company’s perspective. When insurance companies take into effect that your employees may be asked to perform tasks at a client location that you may not otherwise ask them to perform if they were on-site at your office, they have a larger underwriting task. This task of researching an insurance company, finding the right one and the right insurance policies to purchase, and actually purchasing the policy can be likened to going on a regular visit to a dentist. Both are necessary but not fun. However, you company cannot operate if it does not have insurance for it.
The Essentials of Services – Getting to Point A
How much insurance to purchase and what types are right for your company is another concern to deal with. Nobody wants to be over-insured, but you also don’t want to be under-insured. Finding the right insurance company that understands your business will also help you in the amount of coverage that your business needs and the types of policies to purchase. Ask for the standard staffing contract of your staffing clients or potential clients whom you will be doing business with. Usually, these staffing contracts contain provision on the amount and type of insurance you need in order to do business with them.
Finding Parallels Between Services and Life
Deflecting risk on you as much as possible is what your clients would want, and you should always remember this. They want to have no risk in having your employees work on-site at their location. if the client asks for a high insurance coverage that you can’t fulfill, either renegotiate the contract with the client or give up the client, and forgo the business.