Hiring the right person for a position can difficult. Claims and loss of working time can be costly if the employee is not a good fit. Although using a structured hiring process may be time-consuming, it can help companies find the type of reliable people they need. Employers liability coverage can mitigate risk and reduce costs associated with employee liability claims not covered by Worker’s Comp.
There are several standard insurance policies that most employers have.
- Employment liability practices
- Professional liability
- General liability
- Workers compensation
They may believe these products offer full protection in the event of an employee claim. However, there are gaps that, if left unattended, could devastate a business. Employers liability insurance fill many of those gaps. It protects the company from claims made by employees as a result of workplace practices or conditions not covered by other policies, such as:
- Diseases or injuries excluded by workers compensation statutes
- Third party cross clams
- Intentional acts by the employer
- Dual capacity claim
- Loss of services to dependents
- Wages for replacement employees
- Improvements in workplace safety
- OSHA penalties
Employee liability claims as a result of negligent hiring can be costly. Taking the time to find the right person for position can curb employee risk. Insurance professionals who specialize in employer liability claims can help companies get the coverage they need to protect themselves and their business.