When it comes to operating a staffing agency, you often need to take extra steps in order to protect your business and your assets. This is especially true when it comes to finding the most appropriate insurance policy. Since staffing is considered a niche industry, you can’t rely on traditional policies to cover all of the risks you are likely to face. In most cases, a standard workers’ compensation policy is not enough for staffing firms.
Meeting State Requirements
If you operate your staffing business in what is considered a monopolistic state, then you are required by law to take out stop gap insurance. This is because employer’s liability insurance is not provided for in these states. To meet the requirements of your state and create a safe and productive environment for your employees, a stop gap policy is necessary. If there is a claim of negligence against your business, this coverage is your safety net. States where this insurance is required include:
- North Dakota
Learning About Your Options
By understanding the specific regulations and laws of your state, you will have a much easier time finding a policy that covers all your bases. Take time to learn more about stop gap coverage and see how you can best protect your business in the staffing industry.