Employers Liability Insurance policy is the policy cover which has been made mandatory for all the business owners by law. Even if you are a managing director of any public limited company, then also you need to own this policy. This policy is majorly formed to cover your employees for any kind of physical injuries or may be untimely death. If it gets proved that the cause of the injury inflicted or the death was the accident which happened at your work premises and also that it could have prevented by you, you can be legally held liable to pay a huge amount of compensation to your employee.
In cases like these, the employers’ liability insurance comes as a boon to you. Even if the charges made against you are proved to be false, the Employer Liability Insurance cover will pay all the legal cost and even the compensation amount, if required.
Yes this insurance scheme is must to have in every kind of business. There are certain type of risks associated with business. And to make employer and employee free from those risks this policy helps out. But I am interested in learning what are the possible coverage options that fall under this policy and the constraints that are associated with this policy.
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