The men and women who work for your organization play a vital part in the success your business sees. This means it is your responsibility to protect the members of your team and the assets of your company by taking out the right insurance policy. Of course, the nature of your work can change what type of coverage will best suit your needs. Professional employment organizations need to look into comprehensive PEO professional liability insurance.
Risks of Operation
As mentioned by U.S. Risk Programs, there are a number of risks involved with operating a PEO. Since many of your contractors are short-term employees, traditional policies do not always offer coverage for these workers. With a policy tailored to the needs of the PEO industry, you are more likely to stay protected in an array of scenarios commonplace to your business. Additional areas to focus on when selecting a policy include:
- Workers’ compensation
- Property damage
- Theft or criminal activity
You want your clients to be able to trust you and your abilities. If a contractor you endorse winds up causing damage to a client’s property or possessions, it can besmirch your reputation. To avoid this, you want to dedicate enough time to finding appropriate coverage. Research your options and see how you can keep your PEO secure at all times.