3 Insurance Policies You Need to Protect Your PEO

3 Insurance Policies You Need to Protect Your PEO

PEO insurance

As the owner of a professional employer organization (PEO), you know how vitally important it is to protect both your business, your clients and, most importantly, the employees who work for your clients. In many ways, PEOs act as outsourced human resources departments, and the right PEO insurance is the best way to get the protection you need.

While most PEOs invest basic business insurance, there are a number of commercial insurance policies you might package together to properly cover your PEO. Here are X of them:

General Liability Insurance

This coverage, in which nearly all businesses invest, covers most basic mishaps, like property damage and personal injury. General liability insurance pays for your legal costs, property repairs and medical expenses.

Errors and Omissions Insurance

If a client sues you for negligence related to the work you provide, an errors and omissions policy can help pay legal costs. It can even cover alleged negligence if need be.

Workers Compensation

Workers compensation insurance pays medical expenses and lost wages to employees injured on the job. In many states, it is required by law.

In the end, the PEO insurance you purchase may depend on how you contract with your clients. Any lingering questions should be answered by an insurance expert, who can help steer you in the right direction.