.
What types of insurance do IT staffing professionals need?
These policies provide coverage for the most common risks of staffing agencies.
General liability insurance
This policy covers risks faced by every IT staffing agency, such as accidental client injury at your office. Bundle with property insurance for savings in a business owner’s policy.
BEST FOR
-
Slip-and-fall accidents
-
Damaged customer property
-
Libel or slander lawsuits
Errors and omissions insurance
This policy, sometimes called professional liability insurance, can cover work mistakes at an IT staffing agency, such as a poor hiring decision or a missed deadline.
BEST FOR
-
Missed staffing deadlines
-
Failure to provide qualified workers
-
Work errors and oversights
Cyber liability insurance
This policy helps IT staffing firms survive data breaches and cyberattacks by helping to pay for client notification expenses, lawsuits, and other costs related to a breach.
BEST FOR
-
Data breach lawsuits
-
Client notification expenses
-
Fraud monitoring costs
Workers’ compensation insurance
Workers’ compensation insurance is required in almost every state for IT staffing businesses with employees. It can cover medical fees and lost wages for work-related injuries.
BEST FOR
-
Employee medical expenses
-
Missed wages
-
Legal costs
How much does technology business insurance cost?
-
Several factors will have an impact on insurance costs, including:
-
Business equipment and property
-
Staffing services offered
-
Revenue
-
Location
-
Number of employees
Why do staffing agencies need insurance?
No matter how careful you are, you can’t control the actions of your staff and clients. Temp agency insurance protects against unpredictable expenses and lawsuits related to staffing errors, client disputes about temp workers, and other risks that could put a small IT staffing agency out of business.
