Staffing insurance solutions can prove to be complex, even for smaller companies. However, general liability and property coverages often form the basis for a complete coverage solution. Depending on the size of your firm and the lines of business you’re engaged in, a business owners policy may be an ideal foundation for your customized indemnity protection package.
What Is a Business Owners Policy?
A business owners policy, commonly called a BOP, combines property and general liability coverages at a lower rate than purchasing them separately. Not only can a BOP be less expensive, but it also addresses basic liability issues you company might face while doing business along with protection against major fiduciary losses when it comes to your property. Common types of claims handled by a BOP might include:
- Damage to property from fire, theft, weather and vandalism
- Injuries from accidents on your premises
- Third-party property damage
Depending on the policy you choose, your BOP may also incorporate business interruption coverage if your firm is forced to stop operations due to a natural disaster or other catastrophic event.
Your Ideal Staffing Insurance Solutions
A BOP is just one possible kind of office package policy, but it’s an example of how a comprehensive indemnity solution can be crafted from individual components. To ensure you receive the best advice and coverage options, it’s wise to consult an insurance brokerage firm with experience serving staffing firms.