Employers' Liability Insurance - A Must Have for Employers

By Nate Rodnay Employers are responsible for the safety of their employees. It is the duty of the employer to protect employees from work-related risks and this is where employers' liability insurance can help. It provides coverage for the claims made by an employee against the employer in case of an injury or illness while doing his job. Employers' liability insurance is an essential cover for businesses regardless of their size - small, medium or large. This article discusses the benefits of employers' liability insurance to the employer and the employee, and urges business owners to opt for it. Benefits to employees Employers' liability insurance guarantees financial compensation to employees when they get into job related injuries or illnesses at workplace for which the employer is liable. This insurance covers cost of medical expenses and lost wages. It also covers the expenses involved in litigation and compensation up to the policy amount. If an employee dies or gets permanent physical disabilities, this insurance offers coverage for the cost of legal procedures and also pays the necessary compensation. Having been covered under this policy, employees feel secure and are at ease, and will be more focused and therefore be more productive. This leads to improvement in the profitability of businesses in the long-term. Benefits to employers Employers are likely to face liabilities because of employees' claim for compensation for injury or illness at employment. This comes in the form of litigation and resultant costs including payment to the attorney, going to court of law, and above all needless anxiety. Employers' liability insurance covers these expenses. The insurance covers financial loss caused as a result of payment of compensation as well. Purchasing this insurance will enable business owners to run their business without having to worry of the probable consequence of business operations. The amount of insurance cover you need depends on the business type, size, and the number of employees, location and risk factors. Get the right insurance quotes from reputed brokerage agencies, according to your business' needs. Reputed brokerage agencies are known for their expertise in the area and excellent grasp of the liabilities your business is likely to encounter. To find such agencies, research thoroughly online. Employers' liability insurance helps both the parties - employers and employees. Thus, the parties involved are equally benefited. Although the unfortunate situations wherein this insurance comes to rescue the parties cannot be predicted and ruled out, it helps them financially find a way out. Keystone Insurance Limited is Ireland's premier supplier of public liability insurance and business insurance solutions to Irish industry. Our experienced and professional team quickly arranges quotes for all classes of business insurance. Article Source: http://EzineArticles.com/?expert=Nate_Rodnay Article Source: http://EzineArticles.com/7637450


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