5 Types of Added Coverage for the Staffing Industry
When it comes to temporary staffing insurance, there are no one-size-fits-all policies. In addition to general commercial and professional liability coverage, placement agencies are often exposed to a variety of risks that need to be assessed on a case-by-case basis. Here are five types of added coverage that temporary staffing agencies can benefit from.
1. Cyber Liability
Cyber liability insurance protects against data breach risks, helping to cover the costs involved in notifying affected clients, investigation, public relations and related efforts.
2. Electronic Data Processing Insurance
EDP insurance covers lost data and associated income related to physical or electronic theft or vandalism, including malware and viruses.
3. Property Coverage
Property liability insurance helps to pay for damage or theft of buildings and contents, including leased or owned office equipment and furniture.
4. Business Auto Insurance
Company vehicles and drivers are insured under business auto coverage. In cases where employees use personal vehicles for business purposes hired or non-owned liability coverage will be required.
5. Business Interruption Coverage
Also known as business income insurance, business interruption insurance protects against profit losses incurred when a disaster-related event ceases business operations.
Functional Policies for a Versatile Industry
Temporary staffing insurance is only as valuable as the policy that underwrites it. If you are in the market for a tailored plan that will serve your business’ needs, make sure to consult a highly rated insurance company with expertise in this challenging industry.