Iowa Temporary Staffing Insurance Policy Information
Iowa Temporary Staffing Insurance. When a company needs workers temporarily, they seek the help of a temp agency. With these services, a company can get workers for limited periods of time to assist in a business. Persons who referred to a job are employees of the temporary staffing agency. As with any other business, there are risks involved with running a staffing agency.
For this reason, it's important to invest in commercial insurance for your business. Having Iowa temporary staffing insurance provides you with protection if there's a lawsuit against your business.
Iowa temporary staffing insurance protects your agency from lawsuits with rates as low as $87/mo. Get a fast quote and your certificate of insurance now.
Why Insurance Is Important for Temporary Staffing Firms
A lawsuit can destroy your business, which is why it is important for you to have insurance. The first thing you must do is find out what are the different insurance policies available and which ones are best suited for your business. Before speaking with an insurance agent, it's a good idea to know the different types of Iowa temporary staffing insurance policies that are available. Here are some of the more common coverages:
Commercial General Liability Insurance: Having this Iowa temporary staffing insurance protects you from third-party bodily injury and property damage claims. It's important for your policy to identify that your business is a temporary staffing agency and not an employment agency.
Employee Theft and Crime Coverage: With this insurance, your IA staffing company is covered when employees or other persons commit theft and other fraudulent acts. Theft in your business can cause lots of financial damage which makes having this type of insurance important for your business.
Employment Practices Liability Insurance: If you want to protect your temp agency from discriminatory action claims, then having this insurance is crucial. Whether an employee or past employee claims sexual harassment or wrongful termination you are covered by having this type of Iowa temporary staffing insurance for your business.
Professional Liability Insurance: Professional liability insurance otherwise known as errors and omissions coverage covers your staffing agency when lawsuits are made against your business due to negligence. If you fail to provide a qualified person for the job or you don't perform the necessary background checks, and you cause damage to another business you can be held liable. With professional liability insurance, the costs associated with such a lawsuit will be covered.
Workers Compensation: Having this policy for your business provides your employees with protection if they are ever injured while working for you or another company. A staffing agency should have workers comp coverage for their in-house employees as well as other staff they deploy to other businesses.
With IA workers compensation, employees who are injured while on the job will have their medical expenses covered regardless if it was their fault or not. This insurance also covers costs if an employee is unable to work because of injury. An added benefit of having this type of insurance is when an employee is injured and die as a result of the injury this insurance pays benefits to the surviving members of their family.
Having this insurance for your business gives your employees a sense of safety when working for your staffing firm. Another thing to note is that different states have different laws and some of them might require you to have workers compensation insurance before operating.
IA Commercial Auto: Most businesses have vehicles they use for daily operations. While on the road there is always the risk of an accident happening with your company vehicles. With this in mind, it's important to protect your business vehicles by having IA auto liability insurance. Having this insurance covers your vehicle if they damage another vehicle or the property of a third party.
IA Temporary Staffing Insurance
When operating a staffing agency, there are always risks involved. You don't have to worry as much about the risks if you get the right insurance for your temp agency. If you have the right insurance for your business, you can protect yourself from lawsuits that can ruin your business.
Iowa Economic Data, Regulations & Limits On Business Insurance
Business-minded individuals who are thinking about starting up a new venture need to ensure that they choose a location for their operation that will allow them to achieve success. It's vital that the place you select for your organization offers a market that will respond to the products and services you offer, otherwise your efforts will be for naught.
If you are considering the state of Iowa as the home base for your business or as a new location for a branch of your company, being aware of the economic trends in the state are crucial. Furthermore, knowing what type of commercial insurance you need to carry is also vital for your success. Below, we offer a brief overview of both the economic trends for the state of IA, as well as what type of commercial insurance business owners need to carry in the state.
Economic Trends For Businesses In Iowa
The state of Iowa has experienced positive economic growth in the past few years. As of January, 2019, the unemployment rate in the state was 2.4 percent, a 0.4 decrease from the previous year, when the unemployment rate was 2.8 percent in January of 2018. Compared to the national unemployment rate, which rose to 4.0 percent in January of 2019, it's clear to see that Iowa offers promise for the workforce, as well as business owners. According to the state's Workforce Development, more residents of Iowa are working now than ever before.
While locations throughout the state offer promising opportunities for business owners, Des Moines, in particular, seems to show the most promise, as, according to economists, it's the third best city to start a business in the United States. Economists also suggest that areas surrounding the city of Des Moines also offer great potential for business development.
Several industries are seeing growth in The Hawkeye State, and are expected to continue to see growth throughout the 2019 calendar year. These industries include:
- Agriculture and food production
- Information and communication technology
- Renewable energy and fuels
- Warehousing and distribution
IA Commercial Insurance Regulations And Limits
The Iowa Insurance Division regulates insurance in the IA. As with every other state in the country, business owners in Iowa are legally required to have certain types of commercial insurance.
In IA, any business that has one or more employees must carry workers' compensation insurance, which provides coverage for workplace-related injuries and illnesses that employees may sustain.
Additional Resources For Professional Services Insurance
Get informed about small business professional services insurance, including Professional liability, aka errors and omissions (E&O insurance), that protects your business against claims that a professional service you provided caused your client financial loss.
- Answering Service
- Attorney Lawyer
- Business Consulting
- Corporate Wellness
- Court Reporter
- Debt Collection Agency
- Detective Agency
- Electrical Engineering
- Environmental Consultant
- Executive, Career & Life Coaching
- Executive Search Firm
- Expert Witness
- Financial Services
- Financial Planner
- HR Consultant
- Mediator - Arbitrator
- Medical Billing
- Music, Drama & Dance Therapy
- Office Machine Repair & Maintenance
- Project Management
- Temporary Staffing
- Tax Preparer
Let's face reality. People today are claims conscious, resulting in a significant share of malpractice lawsuits against professionals.
Liability resulting from the rendering of or the failure to render professional services is excluded in most liability coverage forms. This means that a policy covering a account's or lawyers' office will cover liability arising out of the maintenance or use of the premises, but specifically exclude liability arising out of the rendering of a professional service or the omission of such a service.
In addition to the professions in which actual physical or mental injury may be caused to clients, certain other professions are exposed to claims for malpractice.
Claims may be brought against lawyers, accountants, architects, and similar professional persons for errors or omissions in their professional capacity. Errors & Omissions insurance pays damages that might be awarded to a plaintiff alleging professional negligence.
Professional liability policies are made available to such risks, and these policies provide essentially the same protection as is afforded under the physicians, surgeons or dentists professional liability policy.
Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Accounts Receivable, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Professional Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Equipment Breakdown, Flood, Computer Fraud, Forgery, Money and Securities, Special Floater, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.
Request a free Iowa Temporary Staffing insurance quote in Adel, Algona, Altoona, Ames, Anamosa, Ankeny, Asbury, Atlantic, Bettendorf, Bondurant, Boone, Burlington, Camanche, Carlisle, Carroll, Cedar Falls, Cedar Rapids, Centerville, Chariton, Charles City, Cherokee, Clarinda, Clear Lake, Clinton, Clive, Coralville, Council Bluffs, Creston, Davenport, DeWitt, Decorah, Denison, Des Moines, Dubuque, Dyersville, Eldridge, Estherville, Evansdale, Fairfield, Forest City, Fort Dodge, Fort Madison, Glenwood, Grimes, Grinnell, Hampton, Harlan, Hiawatha, Humboldt, Independence, Indianola, Iowa City, Iowa Falls, Jefferson, Johnston, Keokuk, Knoxville, Le Claire, Le Mars, Manchester, Maquoketa, Marion, Marshalltown, Mason City, Monticello, Mount Pleasant, Mount Vernon, Muscatine, Nevada, Newton, North Liberty, Norwalk, Oelwein, Orange City, Osceola, Oskaloosa, Ottumwa, Pella, Perry, Pleasant Hill, Polk City, Red Oak, Sergeant Bluff, Sheldon, Shenandoah, Sioux Center, Sioux City, Spencer, Spirit Lake, Storm Lake, Urbandale, Vinton, Washington, Waterloo, Waukee, Waverly, Webster City, West Des Moines, Windsor Heights, Winterset and all other cities in IA - The Hawkeye State.
Also learn about Iowa small business insurance requirements for general liability, business property, commercial auto & workers compensation including IA business insurance costs. Call us (515) 207-7253.