Employers Liability Insurance - Covers both Employer and Employee
Employers liability Insurance covers the following: an employee falling ill, or getting injured in the workplace, or the case of an employee's death. Employers liability insurance is a must have insurance. There can be only two exceptional situations where you can save yourself from getting an employers liability insurance. Either you are running a single employee company, you being the only employee, or if you only hire your family members. In any setup other than this, employers liability insurance becomes mandatory.
Employers liability insurance is a legal obligation in many countries of the world, such as the USA, Britain and many others.
The protection employers liability insurance offers is great. In the event of an accident, and your employee(s) decide to sue you, the legal and medical fee will be covered by your insurance provider.
What the claims bring about will depend upon whose negligence caused the accident in the first place. If the employee was at fault, the extent of his fault will determine as to whether your costs are cut down or they completely vanish.
If you don't acquire employers liability insurance, you are vulnerable to a legal monetary penalty for each day that your employees were not provided the insurance. Not only that, health and safety authorities might close down your business forcefully. This is certainly not the kind of risk any businessman would take.
The insurance certificate that you get must be available for your employees to read. You can put up a copy of the certificate on your company's information board and perhaps put another copy on the company website, whatever way suits you better.
EL insurance does not cover public. It only covers your employees. In the event a customer or third party is injured on your premises, your commercial/public liability coverage will cover the costs if legal action is taken.
Employers Liability Insurance only covers employees falling ill, getting injured or death. It doesn't cover you in case you face claims like employee termination based on faulty judgment or sexual harassment etc.
The insurance provider you get insurance coverage from must be authorized. Otherwise, you are breaching the law anyway. Make sure you take out the time to compare the costs of various insurance providers before signing up with any particular one.
The beauty of EL insurance is that it protects you from having to directly pay costs in the event an employee is injured on the job. It protects both you, by being able to cover any costs without going out of business, and the employee, who may be unable to work temporarily. - 23211
Employers liability insurance is a legal obligation in many countries of the world, such as the USA, Britain and many others.
The protection employers liability insurance offers is great. In the event of an accident, and your employee(s) decide to sue you, the legal and medical fee will be covered by your insurance provider.
What the claims bring about will depend upon whose negligence caused the accident in the first place. If the employee was at fault, the extent of his fault will determine as to whether your costs are cut down or they completely vanish.
If you don't acquire employers liability insurance, you are vulnerable to a legal monetary penalty for each day that your employees were not provided the insurance. Not only that, health and safety authorities might close down your business forcefully. This is certainly not the kind of risk any businessman would take.
The insurance certificate that you get must be available for your employees to read. You can put up a copy of the certificate on your company's information board and perhaps put another copy on the company website, whatever way suits you better.
EL insurance does not cover public. It only covers your employees. In the event a customer or third party is injured on your premises, your commercial/public liability coverage will cover the costs if legal action is taken.
Employers Liability Insurance only covers employees falling ill, getting injured or death. It doesn't cover you in case you face claims like employee termination based on faulty judgment or sexual harassment etc.
The insurance provider you get insurance coverage from must be authorized. Otherwise, you are breaching the law anyway. Make sure you take out the time to compare the costs of various insurance providers before signing up with any particular one.
The beauty of EL insurance is that it protects you from having to directly pay costs in the event an employee is injured on the job. It protects both you, by being able to cover any costs without going out of business, and the employee, who may be unable to work temporarily. - 23211
About the Author:
About the author: Ben Ashfalk knows a lot about employers liability insurance and liability insurance coverage.
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