If you own a business in the staffing industry, you may not realize some of the risks that you have without staff insurance. Two of the main responsibilities that you have are for the actions of involved parties and investments.
As a business owner, you are liable for the actions of your employees. Since your business places employees in other companies, you are still responsible for the work and services they provide to those companies. This means that if an employee that you placed burns down a building, you could be financially at risk.
Not only are you responsible for the employee’s action, but you are also responsible for the actions of the business. That means that if the company is negligent in the training of the staff you provide, you are liable for any injuries received.
Both of these scenarios leave you at a big financial risk.
Speaking of financial risks, if you provide services related to another company’s employee benefits, you are responsible for the money you are investing. This means that if the investment goes south, you could get sued for mismanaging the money.
How to Alleviate the Risk
Even though there are a lot of risks involved, they can be alleviated through staff insurance. You do not have to be burdened with all of the financial risk. If you talk to an insurance agent, you can find a policy that will best protect you, your business and your employees.