Staffing companies in the US benefit companies by hiring a weekly average of 3.08 million contract and temporary workers. With that many people working through agencies, it is important to see if your state’s workers’ compensation insurance include an employers liability insurance policy. If not, then stop gap insurance coverage can fill in the gaps left by a workers’ compensation policy in the event an employee is injured while on the job.
Not all states are monopolistic and therefore may not need a stop gap policy. The coverage is often tied directly to the general liability policy or workers’ compensation policy depending on the state it is issued in. Highlights of stop gap insurance coverage include:
- Bodily injury by disease for each employee
- Bodily injury by accident for each accident
- Bodily injury by disease with aggregate limit
Monopolistic states generally do not include employers liability with workers’ compensation policies putting staffing agencies at risk. Stop gap insurance coverage fills in those gaps ensuring the agency does not incur financial hardship if an employee is injured on the job. Speak to a qualified insurance experienced with staffing agencies to determine if your company needs a stop gap policy. Don’t wait until it’s too late to get the coverage you need.