With the many tasks required for daily operations, many business owners would rather not think about liability insurance. While it may seem unpleasant, a lack of coverage could leave you and your company vulnerable in the case of a lawsuit. In order to best protect your business, consult an insurance professional with experience within your industry to ensure you get the right policy for you. Even though employee liability could be a factor, here’s how employer liability insurance can give you peace of mind.
No matter the precautions, accidents happen. If you as the employer are accused of negligence, you could be facing court costs, fees, settlements and a number of other costly charges involved in a lawsuit. There are several claims you could encounter, like loss of consortium and consequential bodily injury. The right liability insurance can cover these costs if you are held at fault for an accident. This type of coverage is often included with workers compensation, but you should double-check your policy to make sure, as you might have to make an addition if there’s a gap. If you run a staffing firm, employee liability can be especially difficult to judge if the employee was working for a client at the time of the incident. So long as you’re insured, you can protect your business within the coverage limits as claims are made.