Categories
Staffing Company Employees

Protecting Your Staffing Company Employees

The staffing industry is one of the fastest growing niches in the B2B marketplace, and it’s no surprise. Screening applicants and seeking out talent for niche skill sets can be expensive, so many companies outsource the process to labor providers who make it the point of their businesses. When you provide the staff to other companies, though, you need workers compensation for staffing companies that’s been priced to cover you in every state and country where you need a policy. That kind of flexibility is rare, but with the right search you can find a provider that fits the bill.

Unique Liability, Unique Policies

When your staff works at someone else’s job site, you share some liabilities with the client when employees get hurt. As the employer, you are still responsible for covering worker protection policies, but you may share some of that liability depending on the nature of the accident and the determination of negligence when the accident is investigated. This makes your risk profile different from employers whose staff works in the company’s facilities, and your insurance should reflect that. When you work with providers who are used to the unique needs of staffing companies, you can get policies written to reflect these shared risks, making them more cost effective for the coverage you receive.

Categories
EPLI Coverage

Why EPLI Coverage Is Important for Your Business

Employment Practices Liability Insurance safeguards your business from lawsuits alleging discrimination, wrongful termination, sexual harassment, and other employee-related allegations.

Does Your Business Need EPLI?

Employee lawsuits are growing and EPLI settlements are getting more costly. Companies of all sizes are subject to this risk, and your general liability insurance does not typically cover these types of lawsuits. Additionally, legal fees are expensive, even if you are not at fault.

What Claim Types Does EPLI Cover?

This type of insurance covers many kinds of employee lawsuits, protecting you from claims such as:

  • Wrongful termination
  • Sexual harassment
  • Discrimination
  • Mismanagement of benefit plans
  • Failure to promote
  • Wrongful discipline
  • Emotional distress
  • Wrongful demotion
  • Libel or slander/defamation
  • Hostile work environment

What Protection Does EPLI Provide?

Employment-based claims sometimes cost hundreds of thousands of dollars. This specialized coverage helps cover EPLI settlements, judgments against your business, and defense costs against the claims.

How Much Does EPLI Cost?

Insurance companies consider the type of business, the number of employees, the turnover rate, and the claims history when determining the premium rates. Consult an insurance agent with EPLI experience as well as knowledge of your industry for the best results.

Business owners face significant liability with these types of employment practice claims. If your firm has employees, you should have EPLI coverage.