Employment agencies are just as open to risk as other businesses are. Therefore, it only makes sense that there is insurance coverage available for employment agencies as well. There is an assortment of different types of employment agency insurance every agency should consider investing in which includes, but is not limited to, general liability, employee benefits, abusive acts, worker’s compensation and many others. In more general terms, available insurance coverage can be applied to any situation that can cause financial or personal damage to the workers, the clients or the agency itself.
General liability covers bodily injury and property damage as well as damage caused to reputation. Most of the insurance offered can be grouped under general liability. For example, abusive acts coverage includes claims of mental and physical abuse afflicted onto the accuser. Other types of insurance deal specifically with employees, which are those working directly under the agency or those hired by the agency’s clients. Employee benefits insurance protects the company in the case of errors made in employee health insurance or similar benefits. Worker’s compensation help cover costs and reimburse employees who are unable to work due to health reasons.
Understanding the different types of employment agency insurance available will help determine what kind of coverage your agency needs. Therefore, it is vital to do the proper research beforehand in order to fully prepare for any kind of occurrence in the near future.