The Importance of Insurance for Healthcare Staffing Agencies

Healthcare professionals are essential to Canada’s healthcare systems. The care they provide helps keep Canadians healthy. However, the industry is growing and there is an increased need for nurses, doctors, and personal support workers.

Healthcare staffing agencies connect vital healthcare workers—such as RNs, RPNs, and PSWs—with medical and care facilities. They place experienced professionals in hospitals, medical clinics, long-term care homes, retirement homes, and clients’ private homes so patients get the care they need.

Medical staffing agencies fill a great need for talented, experienced healthcare professionals. However, their job exposes them to a unique set of risks and liabilities.

Mistakes happen, even when all procedures are followed. Having adequate coverage is needed to prepare for unforeseen events when placing professionals within an industry where people’s health is on the line.

What is Healthcare Staffing Insurance?

Healthcare staffing agencies place RNs, RPNs, and PSWs in settings where they have a responsibility to ensure their staff members provide quality care to their patients.

However, even the most experienced healthcare professionals can find themselves facing an error or omission claim. Agencies must ensure they have adequate coverage in place to protect them in case of any potential problems.

Healthcare staffing insurance is a comprehensive policy tailored to suit the specific needs of those who staff healthcare workers. This coverage is necessary for successful recruitment as many facilities staff require professional liability insurance.

Why Insurance for Healthcare Staffing Agencies Matters

When patients’ health is at stake, it is necessary to have a plan in place if things go wrong. Oversights or mistakes can lead to lengthy legal battles that often bankrupt business businesses, making it imperative they protect themselves with adequate coverage.

Medical professional liability or errors and omissions insurance is a necessity for healthcare staffing agencies to protect their businesses. Claims of medical malpractice that result in injury, illness, or death can lead to devastating liabilities and costs.

Making sure you are covered through comprehensive medical professional liability provides peace of mind and protects against potential lawsuits.

What Healthcare Staffing Insurance Covers

Healthcare staffing insurance protects agencies that provide temporary or contract staff to medical facilities. These agencies are responsible for ensuring their staff members are qualified, trained, and capable of providing quality care to their patients.

However, as we know, mistakes and accidents do happen. This is why insurance for staffing agencies is so important—you need to protect yourself from potential lawsuits and other risks. Some key coverages are:

• Professional Liability Insurance: Also known as Errors and Omissions (E&O) insurance, this coverage protects healthcare staffing agencies against disputes regarding the professional services they provide. It protects against allegations of negligence, misconduct, failure to deliver a service, and other errors, or omissions made by their staff. For example, if a placed nurse fails to have the designations required by the facility and they are now short-staffed, professional liability insurance can help cover the ensuing legal fees and settlements.
• Commercial General Liability Insurance (CGL): This coverage protects your business against the daily risks faced when operating. CGL is essential for staffing agencies to protect in the case of bodily injury, property damage, and advertising injury. In the event of a lawsuit that arises due to these claims, this coverage can help pay for legal fees and medical fees if necessary.
• Cyber Liability Insurance: As agencies increasingly rely on technology to manage their operations, the risks related to cybercrime also increase. Businesses face new risks related to data breaches and cyberattacks. Cyber liability insurance can help cover the costs associated with data breaches, and cyber fraud.

Why Choose KASE Insurance

Medical staffing insurance is how healthcare staffing agencies can and should protect themselves from potential risks and lawsuits.

Professional liability, general liability, and cyber are three areas of coverage that can help businesses operate successfully. At KASE Insurance, our team understands the unique challenges experienced by those responsible for placing healthcare professionals.

Don’t hesitate to contact us with questions. Whether you’re looking to understand healthcare staffing agency insurance requirements or get help customizing your policy to meet the needs of your business, we are happy to help.