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19 Mar Insurance for Temporary Employment Agencies
Why “Hire” EIB to Secure Your Temporary Employment Agency?
Temporary employment agencies fill a tremendous gap in the job market, providing temporary or contract workers for a day, a week or indefinitely. It is undoubtedly a robust industry — the numbers bear it out. According to the American Staffing Association,* more than three million temporary and contract employees work for America’s staffing companies during an average week. During the course of a year, America’s staffing companies hire nearly 15 million temporary and contract employees.
- Most (76%) work full time, comparable to the overall workforce (82%).
- Half (49%) of staffing employees say it’s a way to get a permanent job.
- Nine out 10 said staffing work made them more employable.
- One-third (35%) were offered a permanent job by a client where they worked on an assignment, and two-thirds (66%) of those accepted the offers of permanent employment.
Although “temps” perform their duties for a client at another location, the staffing firm is inherently responsible for this workforce, including liability for each contract worker’s actions on the job — whether property damage, theft, or harm to the employee or one of your clients. Even providing improper workers, failure or improper screening or testing, can result in a lawsuit, not to mention, mistakes from a contract worker that results in financial loss. Worse yet, your agency can be subject to class action suits for the same mistake or failure to act.
For that reason, it is vital that you put Evolution Insurance Brokers (EIB) to work for your business. As a full-service excess and surplus lines brokerage with more than two decades of experience, EIB offers specialty liability insurance that helps secure your agency, your clients and your employees. We offer flexible underwriting, risk management expertise, and outstanding claims results for difficult risks, with consideration for good risk management practices. To learn how EIB can help secure your temporary employment agency, contact us today.