If you run a professional employer organization, or PEO for short, that offers human resources services and more to a variety of businesses, it’s crucial to consider getting PEO insurance. There are several important reasons having insurance can protect your PEO and even potentially help streamline your essential services!
You Could Get a Safety Net for All Your Top Services
When your PEO is properly insured, you essentially have a safety net for your services. This provides an important layer of extra legal and financial security for the PEO, which might otherwise face a range of risks and liabilities. Insurance typically covers a wide range of PEO services, including but not limited to:
- Human resources
- Regulations compliance
- Payroll and benefits
- Handling workers’ compensation claims
- Tax preparation
- And more!
You Won’t Have To Spend Energy Sorting Out Your Workers’ Comp
In any PEO-business co-employment scheme, the PEO may take on some liabilities, like workers’ compensation, from the business served. In these situations, having insurance can help sort out those liability issues for you, so your PEO can simply focus on running daily operations.
Every professional employer organization needs to protect its wide range of essential business services. Consider whether PEO insurance could help you concentrate on streamlining services instead of worrying about workers’ comp and more.