As the owner of a staffing agency, you likely already have some form of insurance for your company. If you are a smaller staffing agency, having the best insurance possible can make you competitive against the big names in the industry. Therefore, it is crucial to have proper staffing insurance coverage.
Protection from Theft
Protecting a client from potential theft is essential. When you choose an employee who will be working on-site for a company, in most cases the company does not know the person. Because of that, the company will often expect to be protected against potential theft of materials, equipment, and information.
Protection from Damage
Another problem that can come up running a staffing agency is damage to property. While an employee who breaks a coffee pot is not uncommon, other losses can be more serious. Having the level of staffing insurance that covers these problems is vital to the businesses you work with.
It is not unheard of for a company to close, leaving a staffing company with unpaid invoices. With receivables insurance, a significant amount of that invoice can be paid back to you. This might not seem overly critical, but when it comes down to thousands of dollars of loss, you want to be protected.
Having the right level of insurance for your staffing agency is crucial when it comes to balancing the books. Make sure you are ready for whatever happens to you by purchasing staffing insurance.