Category ArchiveMiscellaneous Professional Liability Insurance

usrisk

The Unique Insurance Needs of Professional Employer Organizations

Running a staffing agency or professional employer organization can offer some unique challenges. When you are responsible for more than 150,000 individuals at any given time, it can add a lot of stress to your life. It can be particularly difficult to determine the best fit for your needs in regard to insurance. In order for your PEOS to thrive, you need to think about the basic coverage options presented to you and which will help your company avoid financial issues.

Coverage Options

As mentioned by the experts at www.usrisk.com, there are certain considerations your professional employer organization should take when selecting insurance. Due to the nature of your business, you may need very specific plans in order to cover the demands placed on your clients or employees. Common coverage options to consider include:

  • General liability
  • Errors & omissions insurance
  • Employment practices liability

Additional Policy Considerations

There are also some additional policies you may wish to consider. Auto, crime, and property options are typically available to companies that require this coverage. Weigh out your options and determine which policy will help protect you in the broadest range of scenarios.

Getting the most out of your insurance policy takes time. Help your professional employer organization see the success it deserves by researching a coverage option that works best for your future.

Huntersure LLC

Understanding Miscellaneous Professional Liability Insurance

If you own or manage a company that provides professional services, it’s essential to make sure you have the right level of insurance coverage. One type of insurance you may want to have is Miscellaneous Professional Liability insurance. This type of coverage can help reduce the financial consequences of errors or omissions that occur when you provide services to your clients.

The Basics of MPL Coverage

You may wonder exactly what is MPL insurance? In essence, this type of coverage can help protect your company if there are allegations or lawsuits based on problems with the services you provide. For example, some circumstances that MPL insurance may cover include lawsuit claims that your company failed to meet service deadlines, misrepresented the services offered or made errors during service contracts.

MPL Client Industries

You may consider obtaining MPL insurance no matter what type of services your company provides, but this type of coverage is especially common in certain industries. The insurance firm Huntersure LLC states that MPL insurance may work well for certain professionals: property managers, real estate agents, consultants, bookkeepers, travel agents, and publishers.
Having the right insurance coverage for your company can help protect your financial assets if there is a lawsuit or other legal action. If your company provides professional services, you may want to consider getting MPL coverage that can help offset liability issues related to errors, omissions, and failures that occur during service contracts.