Staffing Agency

Just because a staffing agency supplies workers for other companies doesn’t mean it is not liable for the people it hires. On the contrary, this kind of business must mitigate the risks it faces within its own walls as well as at the locations that benefit from its services. Here are two of the policies available.

Crime Insurance

According to statistics reported at https://www.wwspi.com/, employees steal $50 billion from their employers each year, resulting in a 7% loss in annual revenue. Crime insurance covers theft directly from the staffing agency, as well as from the companies that contract with it. Besides the simple loss of property, it also covers identity theft and the stealing of trade secrets.

Professional Liability

Recruiters make staffing decisions that open a company up to claims of professional liability. For example, new hires may claim they were placed in a job for which they were not qualified, or a company may sue because employees did not abide by rules. Professional liability insurance protects against legal issues that often ensue from these types of situations.

Because of the large number of employees working at multiple locations, staffing agencies run even more risks than other businesses. Luckily, there are insurance companies that specialize in mitigating these risks with multiple policies.

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