Experience Matters When It Comes to PEO Insurance
Companies in the Professional Employer Organization industry have unique exposures, which means that those companies will need unique insurance policies to protect them and their employees. PEO insurance is a specialized type of insurance that should only be secured from insurance providers that have a wealth of knowledge and experience working with PEO companies.
Direct Working Relationship
You might have a difficult time finding an insurance company that has extensive experience working in the PEO industry, but your search will be well worth it not only for the future of your organization, but for your peace of mind as well. The insurance company should have PEO experience as well as the ability to meet the specific needs of your particular organization. Just as different types of automobiles require different types of insurance coverage, the same applies to PEOs.
Your insurance agent should also be willing to work with you in order to develop a PEO insurance policy that complements your current risk management philosophies. Something else to consider is an insurance agent who will also teach you more about the PEO insuranceindustry so that you can truly understand more about what kind of coverage you need, why you need it and how that coverage works.
Insurance companies that specialize in Professional Employer Organizations should act as a shield, advisor, teacher and confidant for any organizations that they provide coverage for. Make sure that you do plenty of research before deciding on an insurance plan and an insurance provider.