How I Achieved Maximum Success with Options
Considerations for Staffing Company Insurance Staffing companies can operate their business only after they have purchased adequate business insurance even before they operate on their business and send out their first employees. There is a need for staffing companies to purchase the basic Worker’s Compensation and General Liability Insurance. It will also be a good idea to consider buying a G/L policy that will include Professional Liability Coverage and Errors and Omissions (E & O) coverage, on top of the basic insurances. 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. When a staffing company sends out temporary or contract employees to remote, third party client sites, the business owner can lose direct control over these employees, and this is the reason why underwriting an insurance policy for a staffing company is quite challenging. If these employees worked everyday at your location then it would be easier to assess the risks. In an insurance company’s perspective, there is greater risk for employees that work at client locations, which is the nature of the staffing industry. 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. ON the other hand, if you don’t have any insurance for your staffing business, they you will not be allowed to operate our company.
The Essentials of Services – Revisited
How much insurance to purchase and what types are right for your company is another concern to deal with. Being over-insured and under-insured are both not good for the company. 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. You can ask your staffing clients or potential clients to send their standard staffing contract to you. In their staffing contract, your client will surely have a section that covers insurance, how much and the types you need to have in order to do business with them.
Finding Parallels Between Services and Life
Always remember, that clients would want to deflect as much insurance risk on to you as possible. 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.