A staffing agency can be an exciting business to run. With excitement also comes the risks. Working with many different people can lead to misunderstandings and legal action. If you run the business, you could be held liable in certain situations. Having staffing d&o insurance can help prepare your agency for these situations.
The Basics of D&O Insurance
Directors and Officers Insurance protects company management in the event of liability claims. These liability claims stem from the business decisions that the management made. The insurance can also help cover legal fees, settlements and other related legal costs. Having this insurance can help your company’s leaders make decisions without fear that legal issues will sink the business.
How It Could Be Useful in the Staffing Industry
The staffing industry has a lot of moving parts. An agency works with individual staffers as well as numerous companies. There is also the well-being of employees that work directly for the agency. Clerical errors could lead to a staffer or an agency not being given what is owed to them. Internal agency employees may think a new corporate decision is unethical.
Claims and lawsuits can lead to a lot of lost money. Being prepared with adequate D&O Insurance can help ensure your business stay afloat in these situations.