Temporary Staffing Agency Insurance

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Insurance for Temporary Staffing Agencies

Available in all 50 states!

Bankers Insurance serves the temporary staffing industry.  As an independent insurance agency, we aren’t tied to only one insurance company.  We can quote your temporary staffing agency insurance with several and present you with your best options.  We represent many companies that specialize in the staffing industry.  Let us shop your insurance for you.

Questions?  Call us at (877) 606-1375 today!

We can insure

  • Broad variety of staffing operations:  clerical, healthcare, tech, warehousing, manufacturing, and all other.
  • Temporary Staffing
  • Permanent Placement
  • Payrolling
  • Professional Employer Organizations (PEO)
  • Administrative Services Organizations (ASO)
  • Vendor Staffing Management (VMS)

We Offer

  • Several major staffing insurance companies
  • Packages or stand-alone polices
  • General Liability
  • Umbrella / Excess Liability
  • Professional Liability
  • Hired and Non-Owned Auto Liability
  • Employment Practices Liability (EPLI)
  • Employee Benefits Liability
  • Employee Theft / Crime
  • Workers Compensation

Temporary Staffing Agency Insurance

Temporary Staffing Agencies are unique when it comes to insurance. Due to the wide variety of positions staffed, there are only a few insurance companies that specialize in this industry. Depending upon your type of staffing agency, workers compensation and/or professional liability are most likely some of your business’s largest expenses and also the biggest risk exposures.  We offer quality staffing insurance products from “A” rated insurance carriers that will save you money.

Our temporary staffing agency insurance covers clients that staff a variety of operations, including office/administrative, professionals such as lawyers and doctors, industrial, healthcare, manufacturing, construction, and many other. We also insure staffing agencies that perform direct placements, permanent hires, try-before-you-buy programs, PEO’s, and payroll services. We have the resources and expertise to properly advise on how to insure your staffing agency and protect your investment.

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Basics

Workers Compensation

Most staffing businesses understand workers compensation and the need for it. Not only does workers comp protect the employee, but it protects your staffing firm from being sued by your employees for work-related injury. Be sure to obtain workers compensation insurance from a qualified, highly rated insurance company with a program specifically for staffing firms. Bankers Insurance has MANY sources for workers compensation such as Zurich, Chartis (AIG), and Benchmark just to name a few.

Bankers Insurance understands workers compensation and we have the resources to save you money while providing the insurance coverage you need. If you are in the assigned risk pool in your state, remember that we can move you OUT of the pool at any time with no penalty – no need to wait for your policy to expire. You will receive a refund from your prior insurance company for the unused portion of your policy. We regularly save clients 10% to 40% by taking them out of the assigned risk pool, and have even reduced some client’s workers compensation premiums in half. More detail can be found on our workers compensation web page.

Professional Employer Organizations (PEOs) are another option to provide workers’ compensation coverage. Check out our post regarding PEOs as a Workers’ Compensation Solution.

General Liability Insurance

As a part of a temporary staffing agency insurance package, this coverage protects your business for liability associated with bodily injury (hurting other people) and property damage.  For a staffing agency, this risk is low within the walls of the office.  However, many insurance policies will limit the coverage to the office only, providing little benefit.  The real risk is associated with your temporary workers that you are placing in the workforce as they perform their job functions.  Should your employee working in a lumber yard injure a customer, your general liability needs to respond.  Be sure to obtain general liability insurance from a company that specializes in the staffing industry and that the policy does not have a premises-only limitation.  Review our general liability web page for more information.

Professional Liability Insurance

Another large area of risk and expense for temporary staffing agencies is professional liability insurance. Many agencies we talk to erroneously believe that their general liability policy covers them for professional liability as well. That is simply not true. Most general liability policies will have a professional liability exclusion. This coverage is most economically obtained as part of a temporary staffing agency insurance package.

Your professional liability exposure will vary depending upon what you staff. For example, if you staff doctors or paralegals, your professional liability exposure will be higher than if you staff blue collar positions. However, don’t think that because you staff non-professionals that your business is exempt. Consider if a forklift operator you provided runs into a building, backs into an expensive vehicle Lexus, or worse yet runs over someone? If they were inadequately trained, that could be construed as a professional service and any negligence may be declined under general liability insurance.

The following is a Risk Profile from Rough Notes that you may find helpful in understanding temporary staffing agency insurance needs. Contact us and ask for a full risk review.

Description of operations: Employment agencies may offer several different types of employment-related services or they may concentrate on just one industry. Services commonly offered are placing a worker with a permanent position, finding a specific type of worker for a customer company, providing employers with short-term or temporary help, or providing workers with job counseling.

It is very important to make sure that the worker seeking employment, the employment operation, and the customer company seeking the worker understand fully the terms and conditions of the employment arrangement. There needs to be strict contractual definition as to who is obligated and responsible for providing workers compensation coverage, who pays the fee for the employment arrangement, who handles payment to the employee, who accounts for taxes and other mandatory deductions, and who provides miscellaneous employee benefits, if any, such as health insurance or a 401(k) savings plan.

Property exposures are usually light and are made up of office-type hazards. There may be some theft potential, depending on the amount and type of electronic equipment on hand.

Crime exposure comes from Employee Dishonesty. It is important to keep billing and disbursements as separate duties. Regular audits are also important.

Inland marine exposures consist of Computers, Valuable Papers and Records, and Accounts Receivable. Duplicates should be made and kept in an off-site backup facility for easy reproduction following a loss.

Premises liability exposure is moderate due to the number of clients visiting the premises. The waiting area and other places where the client has access must be well lighted with floor covering in good condition. Personal injury liability is a high-potential exposure. The agency must take great care to maintain confidentiality when releasing information regarding workers and employers.

Professional liability exposure is of high concern. The background, training, and licensing of the agency’s own employees requires review and evaluation. All procedures must be followed and licenses maintained. Employees must be matched with the needs of clients. Misrepresentation of either party may result in allegations of negligence.

Automobile liability exposure depends on whether or not any transport is involved, such as shuttle for temporary workers or transport to job interviews. The automobile exposure will increase significantly if any transport is offered or if employees use their own vehicles for agency business. Drivers must have appropriate licenses for the exposure. MVRs should be run on a regular basis. Vehicles must be maintained and records kept in a central location.

Workers compensation exposures can be limited to office-type hazards if no employees of the company are leased or rented out. Exposures can increase significantly when workers are leased or rented out as the company has little control over the client’s work premises or hazards. The employment contract should specify whether the company and the client provide workers compensation coverage.

Minimum recommended coverage:

Business Personal Property, Employee Dishonesty, Accounts Receivable, Computers, Valuable Papers, General Liability, Employee Benefits, Professional, Umbrella, Hired and Nonowned Auto, Workers Compensation

Other coverages to consider:

Forgery, Computer Fraud, Employment Related Practices, Business Automobile Liability and Physical Damage

Reprinted copyrighted material with permission by the Rough Notes Company, Inc.

Why Bankers Insurance?

Anyone can be an order-taker.  Bankers Insurance is different.

We offer choices and expertise.  We don’t expect clients to be temporary staffing insurance experts.  Take advantage of our experience.  We can explain your options and help you determine the right coverages.

As your insurance agent, we strive to know you.   Only then can suggest the coverage that suits your specific business.  We look for coverage gaps to help ensure complete protection.  With us, you get the benefit of: