Lawsuits and claims are a costly reality for staffing agencies. From workers' compensation claims to professional liability risks, unexpected events can create financial challenges for your business.
At Mason-McBride, we recognize that staffing agencies must consider the risks associated with each placement. Ensuring employees have appropriate coverage for their roles is essential.
With over a century of experience, our team helps business leaders, including temporary agencies, executive search firms, and other staffing organizations, navigate their insurance needs.
Typical Coverages for Staffing Agencies
Staffing agencies face unique risks, given their role in recruiting, hiring, and managing temporary employees across various organizations.
We provide access to a broad range of insurance solutions from reputable carriers, including specialized staffing programs and coverages that may not be widely available.
While coverage requirements vary by company and industry, most staffing firms typically consider the following:
Workers Compensation Insurance:
Staffing agencies have unique workers’ compensation concerns. Worker compensation insurance provides benefits to help employees recover from work-related injuries or illnesses. It can also benefit employees' families if they lose their lives in a workplace accident. Factors such as job risk, claims history, and payroll size can affect workers' compensation costs.
General Liability Insurance:
General liability insurance helps protect staffing firms from claims related to bodily injury, property damage, advertising injury, and specific errors or omissions. Legal expenses, such as attorney fees and settlements, may become out-of-pocket costs without this coverage.
Cyber Liability Insurance:
Cyber liability insurance can help staffing firms respond to data breaches involving personally identifiable information. Many policies also include coverage for extortion, business income loss, and system failures resulting from a cyberattack.
Professional Liability Insurance:
Also known as Errors and Omissions (E&O), professional liability insurance can help protect your staffing agency from consequential loss resulting from negligence claims associated with your professional service. Professional liability claims involve allegations whereby the customer alleges they lost revenue or incurred expenses because of the negligent rendering of professional services.
Business Property Insurance:
Business property insurance covers equipment, signage, inventory, and furniture in the event of a fire, storm, or theft. However, it doesn't cover mass-destruction events like floods and earthquakes.
Why Work With Mason-McBride?
Mason-McBride provides risk management and insurance solutions tailored to staffing agencies across industries such as accounting and finance, healthcare, IT, manufacturing, logistics, and industrial sectors. We understand the specific risks and regulatory challenges staffing firms face.
Through our extensive carrier relationships, we offer access to insurance programs designed specifically for staffing operations. Our experienced team collaborates with clients to assess coverage options and develop solutions aligned with their business needs.
For over a century, Mason-McBride has been a trusted partner for Michigan businesses, supporting staffing agencies in navigating their insurance needs. Our success is built on a commitment to client service, integrity, and delivering informed guidance.
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