Temporary staffing agencies face several risks that are different from those faced in any other industry, making it essential for owners and operators to invest in staffing agency insurance designed to meet their unique needs. When shopping for a policy, it is important to be aware of the different types of insurance that are available for agencies in order to get the most complete coverage possible.
Employment Practice Liability
When placing an employee with a temporary company, it is important to have employment practice liability in place. This type of staffing agency insurance protects all involved parties, including the employee, the agency and the firm where the employee is to work.
Wage and Hour Protection
Some companies tend to take advantage of temporary employees, but quality wage and hour insurance can ensure that payments are made fairly at all times. Employers are required to follow federal or state laws that govern how employees should be paid, whether or not they are temporary.
Crime and Fidelity
Honesty is essential between employers, employees and staffing agencies. Crime and fidelity insurance can keep everyone feeling comfortable with their situations by offering coverage for theft, forgery or alteration that may occur.
When providing temporary staffing services, it is important for agencies to have ample insurance coverage to keep all transactions within the bounds of proper legal behavior for everyone involved.