Many staffing firms, especially large corporations, have directors and officers running their board and making decisions impacting the entire company. Unfortunately, sometimes those in charge make mistakes and increase the company’s liability. Directors and officers insurance with World Wide Specialty Programs offers protection for both the company and the individual when a claim is filed.
Common claims filed connected to the director and officer positions relate to a lack of corporate governance, misuse of company funds, fraud or even a misrepresentation of the assets of the company. Creditors, customers, employees and competitors can all file a claim. These claims impact the individual involved but can also name the staffing firm on the application.
A lawsuit against the staffing firm can cost a lot of money even if the claim isn’t valid. The business must foot the costs of the lawyers, court fees and related expenses to deal with the lawsuit. Having a D&O policy takes care of a lot of those fees, making it easier on the staff and business at large.
World Wide Specialty Programs gears their insurance products for the staffing firm. With tailor-made products, they work with staffing firms to make sure their liabilities are covered. The expertise and specialty services make them a boon for those in the staffing industry. Protect your firm with insurance experts.