If you are looking for a staffing agency workers comp insurance policy, you have come to the right place. World Wide Specialty is a division of Philadelphia Insurance Companies and focuses exclusively on the staffing industry. They identify risks and provide innovative solutions for these businesses, working with them to build more substantial staffing businesses. You can learn more about the company and their services at their website. This article will provide you with information on the different kinds of policies available.
In addition to workers comp insurance, staffing agencies also need to purchase Employment Practices Liability insurance. This type of insurance protects the agency from lawsuits for employment-related claims. This type of policy covers applicants, in-house and temporary employees as well as clients. The best part is that the policy is written with A+-rated carriers, which makes it easier to keep costs down. Once you have this coverage, you'll never need to worry about the safety of your staff or clients.
Choosing a staffing agency workers comp insurance policy is important for your business. This coverage is essential in the event of an accident or injury on the job. It will cover medical expenses, lost wages, and surviving family members of the injured employee. It's also important to note that staffing agencies need to classify employees prior to placement with clients. The National Council on Compensation Insurance (NCCI) has developed class codes that help agencies determine their rates and coverage. For instance, the coding used to determine the type of job performed by a temporary worker can differ from a permanent employee in the same industry.
In addition to general liability insurance, a staffing agency should also consider fidelity bonds. These bonds are essential components of a staffing agency workers comp insurance policy. These bonds protect the business against theft, legal action, and other monetary loss. Unlike general liability insurance, these bonds are designed to protect the assets of the staffing agency. If a staffing agency employee is harmed while working on a client's project, it can be held legally liable for the injuries he or she may suffer.
The other types of staffing agency workers comp insurance are not only needed to protect the temporary employees, but also protect the agency itself. This type of insurance is specifically designed to protect the agency from damage to property and other third-party injuries. However, it is not a substitute for general liability insurance. A temporary staffing agency should also have general liability insurance. It is important for the workers' welfare of the staffing agency.
A staffing agency workers comp insurance policy should be customized to fit the needs of the company. A flexible program will allow your employees to have their own work and will automatically adjust premiums to accommodate this. A high-quality staffing agency workers' comp insurance policy should protect your workers from injuries that may arise on the job. A full-service insurance agency can help you make the right decision for your company. A professional agent will also negotiate with insurers on your behalf to get the best price.
Ensure your staffing agency has workers' compensation insurance. Without this coverage, you will have no protection for your employees. You must also make sure to have an attorney at your disposal in case you are involved in an accident and need legal assistance. You may be entitled to compensation for your losses, but this is not always possible. If you are hurt at work while working for a staffing agency, you can sue them for damages and other related issues.
While the cost of workers' compensation insurance is very high, the benefits are numerous. Injuries from accidents can be disastrous, and it's crucial to protect yourself. A workers compensation insurance policy will cover the costs of medical bills and other related costs if an employee is injured while working on the job. It will also cover surviving family members of the injured employee. If you are responsible for a staffing agency, it is imperative to have this kind of coverage.
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