What is Employer's Liability Insurance?
Employers liability insurance is a type of commercial insurance that protects employers in the event an employee is injured on the job or brings a lawsuit against the company or organization. While workman’s compensation does cover the costs of work-related injuries, there are times where those costs exceed the coverage in a workman’s compensation plan, or there may be something that happens to an employee that is not covered under the initial workman’s compensation insurance.
How Employers Liability Insurance Works
Employers liability insurance provides financial protection for employers should an employee file a lawsuit for amounts over and above the benefits paid for direct physical injury. The insurance plans generally cover a company from when complaints are filed by employees, including:
- Work-related injuries
- Illnesses caused by work-related responsibilities
- Sexual harassment by other employees or superiors
- Negligence that results in injury
When it comes to employees, employer’s liability insurance will generally pay out claims involving:
- Medical expenses
- Lost wages
Employers liability insurance generally covers the legal fees and settlements that come from these types of cases. While this is a type of insurance that is required by law in many jurisdictions, it is recommended that any employer looking for added protection to their workman’s compensation insurance invest in a plan.
Obtain Employers Liability Insurance in Minnesota
Minnesota businesses can benefit from the protections provided by an employer’s liability insurance plan. If your business has a workman’s compensation plan that needs to be supplemented, contact the commercial insurance experts at The Patrick J. Thomas Agency today. We can help you build a plan that is right for your business.