Report from the Front Lines – Staffing Companies Search For Workers Compensation Insurance

Since the first of the year, I have spoken with about 30 staffing owners concerning their workers compensation insurance.  After reviewing my notes, I find these calls can be categorized into 3 areas.

1. Panicked staffing owner — Their Agent assumed workers compensation policy was going to be renewed as in years past, only to find that the carrier wants off the policy. The staffing owner must beg the carrier for a 30 day reprieve to shop  for insurance– quickly. The Agent admits he does not have too much experience in a challenging worker  compensation insurance  market and/or  identifying a reputable solid Professional Employer Organization (PEO.)

2. Skeptical staffing owner– The agent or Staffing owner has realized that the market  for workers compensation insurance has  changed and can not believe that they have few options other than a PEO or the State Fund. They are very surprised  to find out that PEO’s have also become more selective as to which staffing companies they underwrite now.

3.  Upset staffing owner- Staffing owner has an excellent loss history, but the insurance company does not want to renew their policy because they do not want to underwrite staffing anymore.  They have been with the same carrier for  years, and now feel they are being thrown under the proverbial bus.

In today’s challenging workers compensation insurance market for staffing companies, there is no easy solution for most staffing companies; especially if your premium is under 100K or if you have offices in multiple  states.  In order to be proactive, contact Work Comp Staffing Solutions TODAY before your carrier cancels you, or your rates go through the roof. We can find a Professional Employer Solution (PEO) solution that is reputable, makes economic sense and is still accepting staffing clients.

Always feel free to call us at 202-302-1212 or visit us at www.StaffingCompSolutions.com to discuss your particular workers compensation insurance situation.

All the best

David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing  Association