Running a business in the current day and age can be far more complicated than many people realize. Most industries have gone through massive changes in recent years, meaning business owners must take extra steps in order to protect their assets. For example, traditional workers’ compensation policies may not be enough to cover the risks your business is likely to face. If you run a business like a staffing firm, then you might need to look at stop gap insurance options.
Required in Monopolistic States
A stop gap employers liability policy is a requirement in specific states. This type of insurance is meant to cover the business owner in the event that an employee makes claims of negligence. Whether the claim states that the workplace did not meet safety standards or that there was a general air of hostility around the office, stop gap liability coverage provides the safety net you need to protect your business and your assets. The states where stop gap insurance coverage is required are:
- North Dakota
Find the Best Coverage
When you run a niche business like a staffing firm, you need to take time to think about what extra steps you must put in to find the right insurance plan. If you operate your business in a monopolistic state, take time to review how to get started with a stop gap liability plan.