Companies that specialize in placing temporary to permanent workers pride themselves in matching the right person to the right job, whether the assignment is for a week or for many months or more. Unfortunately, the best-laid plans don’t always work out, and employment agency insurance is all that may be between you and bankruptcy should an unfortunate incident happen and a claim result. These companies were fortunate to have a variety of coverages that addressed each situation that, without protection, would have cost them dearly; here is just a sample of what can be covered:
General liability: A temp at a marketing company was attempting to move an oversized storage case filled with heavy convention signage. He tripped and fell, knocking the case into the decorative glass wall in the building’s foyer and shattering it. Cost to pay for damages and injuries amounted to $150,000.
Crime: A worker was assigned to a clerical position expected to last six months. It took two years to discover she had been embezzling money from the company for the duration of her service, but once the damage was tallied, it amounted to $250,000.
Errors and omissions: An ad firm hired a staffing company to secure a high-level brand manager. Not long into the position, the manager bungled several key presentations and caused a long-time account to leave the agency. The ad firm fired the manager and sued the firm for failing to properly screen the applicant who, it turned out, had falsified his resume and references. Cost of the claim reached $72,000.
It’s time to go with a pro
Remember, a single claim can cost an unprotected company so much that its financial health is compromised to the point of failure. That’s why it’s important to speak to a professional insurance agent, who will have the knowledge, experience, and access that you can harness to receive quotes from the very best providers of employment agency insurance. With the help of your agent, you can compare programs and premiums to discern which program will provide the most comprehensive protection for the best price. Furthermore, your agent can help you assess and address operational risks so you can reduce the exposure you face. Call an agent today to learn more.