What are your Exposures for Employee Related Claims and is your Business Adequately Protected?
If an employee of your organization intentionally causes injuries without your consent or knowledge for employment related injuries, your organization could be sued, and without appropriate coverage, legal defense and other expenses could cause a severe financial impact on the assets and profits of your company.
Exposures covered as respects to workplace:
- Harassment, including sexual harassment
- Wrongful hiring practices
- Wrongful termination practices
- Failure to promote
- Failure to provide equal opportunities
These exposures can come from within the organization from a disgruntled employee. Additionally, if you have employees that work with outside organizations at off-site locations, harassment or discrimination suits could be brought against the employee and/or employer organization from other third parties.
Of course, your first line of defense should be a well-written and up- to-date employee manual of company policies and procedures, along with hands on management’s agreement to implement and oversee policies followed by all employees. The manual should include termination procedures for failure to confirm with anti-harassment and anti-discrimination company policies. Grievance policies and termination procedures should be clearly defined.
The financial burden suffered from an organization for these types of suits can be somewhat passed through the purchase of insurance. Legal expense and defense costs could be exorbitant, and you could only benefit from the advice and expertise of the highly-qualified and sophisticated staff of the insurance carrier. Although the policy is subject to deductibles, tailoring limits and deductible options is important based on your size and profile of your business.
While there are many alternatives and coverage differences among each company, I can help you choose the right policy form, limits and deductible options for your fine organization.
You can contact Roseanne Gedman at Schechner Lifson Corp 908-598-7853 or Roseanneg@slcinsure.com