Consider an Employee Benefits Liability Insurance Policy for Your Company
You may think that all company policies have been adhered to, but what if one slips through? When administering an employee benefit program, employers are obligated to advise employees of all available benefits. However, if there is an omission or error in the administration of all aspects, you may find that employee liability insurance coverage for this issue could be very important for your company.
Once you have your policy set up and enforced, rely on your insurance agent to keep you abreast of any improvements or additions that could be added to your particular package. They are familiar with the the many situations that could arise if there is a slip-up in your management’s correspondence with the employees.
Possible Omissions and Errors
- Failure to inform an employee of a benefit program
- Failure to enroll, cancel or terminate an employee in a plan
- Improper advice given to the employee about a benefit plan
Your company probably already has many other insurance programs set up, such as profit-sharing plans, workers compensation, group life insurance and health insurance. Do not neglect this additional coverage for employee liability that many think they may never need; however, omissions can happen. It is always better to be prepared.