Producers now have somewhere new to look when shopping for difficult-to-find workers compensation coverage for temporary staffing clients. National wholesaler PMC Insurance Group has expanded their temporary staffing services program by adding on a new “A” rated carrier.
Though specifics of the deal prevent PMC from disclosing the carrier’s name, Chief Operating Officer David Malloy said he is excited about the partnership and the opportunity to offer workers comp solutions to producers shopping for temporary staffing clients.
“I think agents and brokers are saying they need help getting workers comp for their [temporary staffing] clients,” Malloy said. “We were at the American Staffing Association conference and met a lot of agents excited about the idea of a new market. I don’t think there’s been a new staffing market brought to the table in a couple of years.”
Indeed, workers compensation needs for temporary staffing outlets have always been difficult to fill. With the variety of risks inherent in hiring temporary employees, most carriers have shied away from offering coverage solutions, leaving producers high and dry.
Currently, AIG remains one of the only carriers to offer workers comp coverage to temporary staffing firms.
PMC believes the acquisition of the new carrier and former temp firm owner and risk manager Bill Nagel will help the wholesaler compete.
“With the hiring of Bill Nagel, a long-time staffing and industry veteran, to our team in August and the recent addition of this new market, we feel we are well positioned to bring needed expertise and options to our agents for this underserved market,” said PMC Vice President Andy Shaw.
PMC said the new market will target staffing accounts starting at $50,000 in a broad range of exposures, including light industrial, healthcare, IT, professional, manufacturing and hospitality.