As part of your risk management operations, PEO insurance is a vital component. This type of coverage can come in many options and formats, tooled to protect against losses that could easily number in the millions of dollars. Understanding its place in your firm’s future strategies can help you select the right products for your business.
A Wide Range of Options
Simply put, PEO insurance is vital for companies like yours that provide complete HR solutions. Because of the very nature of your business, your interaction with clients opens you up to all sorts of liability situations. Whether you have employees providing services on your clients’ properties or acting as authorized agents for them, or you’re managing benefits plans, payroll and other employee management tasks, you need a hedge against losses from liability claims. Fiduciary liability, owned auto policies, property and inland marine are just a few examples of valuable coverages you can include in your total package.
Your PEO insurance solution should be customized to meet your firm’s needs. With multifarious products available, creating a specific package for your company is an excellent way to hedge against financial risk. Your agent should be able to help select products that protect your firm and bring you peace of mind.