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IT staffing agencies must have the right insurance coverage in order to win new clients. Like the companies they represent, clients want their IT recruitment agencies to carry general liability insurance, professional liability insurance, workers compensation, and fidelity bond coverage.
Client companies often require all of their vendors, from plumbers to IT staffing agencies, to show proof of general liability insurance. Any systems engineer you place on a job could accidentally damage hardware, drop a laptop, or spill soda on a server. When a client goes after one of the IT contractors for compensation, you could be held responsible. Insurance for IT staffing agencies can protect you from this risk.
Professional liability insurance for IT staffing agencies is like malpractice insurance for these firms and the information technology service providers they place. It protects your IT recruiting agency from liability arising from errors and omissions that you or your contractors may make on the job. For example, if your staffing firm places a systems analyst on a job, and that individual makes a mistake that wipes out millions of dollars worth of client data, your client can claim the error was your fault and expect you to compensate the company. Without liability insurance, IT staffing agencies could have to foot the bill.
Even if your state doesn’t require workers’ compensation, you should still have it. Why? Because you may work with clients in states that do require it. If your client is required to have it, they will likely require you to have it too even if it’s not a mandate in your state. Workers’ compensation insurance covers medical costs as well as disability and compensation, should you or one of your employees get hurt on the job.
This type of insurance compensates your IT staffing agency if one of your contractors steals money or property at an onsite client. If you place a dishonest individual, you are just as liable as they are if something goes wrong. If you recruit IT professionals in banking or finance, you need to be very careful given all the sensitive data they have access to. Insurance for IT staffing agencies can help with this in the form of fidelity bond coverage.
We believe in supporting our clients through every step of the insurance process. From choosing the right coverage to filing a claim, we are here to offer guidance and support. Request a free quote today and get coverage that meets your unique needs.
