Workers around the world want to have the best employer and suitable working conditions. You might think of different ways to address this, and one of these is insurance.
You would want to retain and keep your workers secured and tenured. Here’s what you should know about employer's liability insurance and how it can help your employees.
You would want to retain and keep your workers secured and tenured. Here’s what you should know about employer's liability insurance and how it can help your employees.
What Is Employer's Liability Insurance?
This insurance is a "safety net" insurance policy that covers your company from any work-related accident or illness. It's another way to protect your business from the costs associated with workplace injuries, illnesses, and deaths. Now, what is its coverage?
What Does It Cover?
Employer's Liability Insurance covers additional and compensation expenses. It is usually purchased with the employees' compensation which covers medical and lost salary during unfortunate circumstances. Other claims would be the following;
A. Third-party lawsuits
If you get an injury while working, you could be entitled to compensation from the equipment manufacturer, who, in return, will file suit against your employer.
B. Loss of consortium lawsuits
You've lost someone important to you, like your significant other or cousin. Now you may need to find compensation for the loss of your relative.
C. Consequential bodily injury lawsuits
A non-employee who suffers from an employee's injury may recover damages against the employer, requiring that the employer do something to prevent further injury.
D. Dual-capacity lawsuits
The employee sues the employer in a dual role. For example, the employer is the property owner where an incident occurred; this means the employer has dual capacity.
What Is Employment Practices Liability Insurance?
This insurance will help employers in cases where there's alleged harassment and all types of discrimination. Not only that but other cases like unlawful termination, libel, slander, not giving promotion. EPLI will cover these costs, and it's best to purchase it with the Employer's Liability Insurance.
Conclusion
It has been predicted that companies will need to consider workers' compensation in all forms. With workers' compensation, liability insurance is the best way to protect your company against costly legal and medical expenses. Yes, employee liability insurance will protect not only the business but also your workers.
At Brad Spurgeon Insurance Agency Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (409) 945-4746. Get your free quote today by CLICKING HERE.
This insurance is a "safety net" insurance policy that covers your company from any work-related accident or illness. It's another way to protect your business from the costs associated with workplace injuries, illnesses, and deaths. Now, what is its coverage?
What Does It Cover?
Employer's Liability Insurance covers additional and compensation expenses. It is usually purchased with the employees' compensation which covers medical and lost salary during unfortunate circumstances. Other claims would be the following;
A. Third-party lawsuits
If you get an injury while working, you could be entitled to compensation from the equipment manufacturer, who, in return, will file suit against your employer.
B. Loss of consortium lawsuits
You've lost someone important to you, like your significant other or cousin. Now you may need to find compensation for the loss of your relative.
C. Consequential bodily injury lawsuits
A non-employee who suffers from an employee's injury may recover damages against the employer, requiring that the employer do something to prevent further injury.
D. Dual-capacity lawsuits
The employee sues the employer in a dual role. For example, the employer is the property owner where an incident occurred; this means the employer has dual capacity.
What Is Employment Practices Liability Insurance?
This insurance will help employers in cases where there's alleged harassment and all types of discrimination. Not only that but other cases like unlawful termination, libel, slander, not giving promotion. EPLI will cover these costs, and it's best to purchase it with the Employer's Liability Insurance.
Conclusion
It has been predicted that companies will need to consider workers' compensation in all forms. With workers' compensation, liability insurance is the best way to protect your company against costly legal and medical expenses. Yes, employee liability insurance will protect not only the business but also your workers.
At Brad Spurgeon Insurance Agency Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (409) 945-4746. Get your free quote today by CLICKING HERE.