Insurance Policies for Employment Agenciesby Shawn Wise Marketing Professional
Employment agencies serve different types of employers and employees and all have different types of exposures that they have to protect against. Employment agencies act as the middleman between the worker and the company, and this reduces that amount of work on both parts. Companies are able to force liability and cost onto the employment agencies and the worker has a one stop place to find a job at multiple companies. There are many different types of employment agencies, ones that service any types of company and others that specialize in a specific industry.
Because the employee actually works for the employment agency they are just as liable as the company for an accident that occurs on the job. There are specific insurance policies that employment agencies must have to protect their business from the exposures and risks that may occur.
Types of Employment Agency Insurance Policies:
General Liability Insurance
Third parties that enter into the employment agency office is subject to on-site injuries, especially if areas are hazardous or poorly lit. Outside areas on the property can cause injury to third parties. The individual does not have to be a client or a customer; they can be someone that is just passing by. As an employment agency you are constantly dealing with private information of employees. Your company can be liable for personal information that is wrongfully released. General Liability insurance protects your company from claims of damage from personal information being released.
Professional Liability Insurance
There are risks of lawsuits against your employment agency for professional errors if you are not licensed properly or your employees are not trained properly.
Workers Compensation Insurance
Workers Compensation Insurance protects both the employee and the employer in case of an injury or illness on the job. Workers Comp pays medical benefits, lost wages, and rehabilitation costs of the injured employee. There is risk of injury to your employees everywhere, even just typical office hazards like tripping, electrical shocks, and eyestrain. But as an employment agency you have employees working for you offsite. With offsite employees come an even greater number of injury risks. Workers Compensation claims to your temporary employees can fall on both you and the assigning company.
Commercial Auto Insurance
Some employment agencies offer shuttle services for employee to assignments and interviews, with that there are risks of vehicle accidents occurring. For specialty and transportation vehicles it is important to have the proper coverage because having inadequate coverage can put your company at risk of lawsuits. Sometimes employees may be required to use their own vehicles for business purposes. Risks can be decreased if MVRs are pre-approved for all drivers.
It is important to have the right Employment Agency Insurance for you business. Go to Contractors1stInsurance.com to get more information on Employment Agency Insurance, Plumbers Insurance, and Transportation Insurance.
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Created on Mar 25th 2012 19:13. Viewed 84 times.