It is has been said rightly that business can be successful by the efforts of the whole team. So, the only business owner is not responsible for the growth of the company because all the efforts and hard work are also done by the workers and employees. So, it is the duty of the business owner to protect their workers and employees against the loss, injury and damage. Owner of the company should include worker’s compensation insurance and Employers Liability Insurance to a business insurance policy. Workers also have a right to claim for compensation from the company if any injury has caused in the work place. Medical treatment will be covered under worker’s compensation insurance. If employees have been sick in the working environment then also compensation will be provided to them. Employer’s Liability Insurance covers those costs which worker’s compensation does not cover.
Why is it important to purchase employer’s liability insurance and worker’s compensation insurance?
When anything happens to the workers and employees then organizations or businesses are responsible for the accidents or incidents. So, workers do not have to suffer alone they can come claim against the insurance company or business. But, insurance companies will not make the workers and employees wait and they will provide cost coverage for injury and sickness. If any worker has died on the workplace than family members get compensation. So, contact with insurance company now to add this insurance to the business insurance policy. In most the countries these insurance are compulsory.
What are the duties of the insurer?
The insurer has the duty to protect policy holder against the loss and to cover the cost of expenses. Similarly, in liability insurance insurer have to provide the protection to employees. They have the number of responsibility like to defend the employees, to settle the reasonable claim, and duty to indemnify.