Staffing Workers’ Compensation

Workers’ Compensation coverage for temporary staffing firms, employment agencies, and PEOs present unique and complex policy issuance and management issues that differ from traditional comp programs. Staffing firms, for example, are in the unique position of serving as an employer providing labor on a contingent basis to the many clients they serve. Key to the success of all staffing companies is the administration and management of their Workers’ Compensation program.

Guarantee Cost - 'First Dollar' Programs

Premiums charged on a prospective basis without adjustment for loss experience during the policy period. A
rate is agreed on at the inception of the policy and is multiplied by the appropriate exposure base payroll to yield
the premium. Loss experience during the policy period does not affect the premium for that period.

As preferred brokers with all the markets offering Guaranteed Cost Programs to temporary staffing companies in the United States, we can help identify the program that best fits your needs.

Deductible Programs

A Deducible Program is a cash flow workers compensation insurance program that allows the insured to retain a portion of each loss through a substantial deductible and to transfer onto an insurer, losses in excess of that deductible. The insurer also handles losses falling below the deductible and bills back these costs to the insured.

Not all deductible programs are the same and it is important to understand he mechanics and program requirements before selecting this workers’ compensation solution. Like a captive program, the insured has ‘skin‐in-the‐game’ in a deductible program. A good insurance partner can help stack the deck in your favor.


State Assigned Risk Pools

Assigned risk is when an insurance company is required to provide coverage for by state insurance law. An assigned risk is typically a risk that may be difficult to find coverage for in the general marketplace. Regulators deal with assigned risks by requiring insurers to pool together to provide coverage.

When it becomes necessary to enter a State Assigned Risk Pool to obtain workers’ compensation coverage for your staffing company, you need a broker who is experienced in dealing with the demanding underwriting requirements, no matter what state your company is working in.

Captive Markets & Formation

Whether you are looking to join an existing Group Captive or to form your own, TSRS Captive Services can help you determine if a captive option is a good fit for your company.

Most staffing companies begin to consider captive options after successfully operating a large-deductible program.  Like large-deductible programs, captives have minimum premium requirements needed to ensure program viability.  Unlike a large-deductible program, captives have the potential of returning generous underwriting profits.  We can explain the program, capital requirements, costs, and benefits.

We have direct access to top-rated actuaries, captive managers, A-Rated fronting carriers, reinsurance markets, claims TPAs, and vendors that you’ll want as part of your team to make your program successful.

Professional Employer Organization (PEO)

A professional employer organization (PEO) provides comprehensive HR solutions for small and mid-size businesses.  Payroll, benefits, HR, tax administration, and regulatory compliance assistance are some of the many services PEOs provide.

However, not all Professional Employer Organizations are ‘Staffing Friendly’. Our national PEO partners know the staffing industry well and tailor services to earn your business every step of the way. In comparison, there is no comparison.