A client asked about the difference in workers’ compensation and employers’ liability.
Workers’ Compensation is the state-mandated health insurance, disability insurance, and life insurance coverage employers buy to cover employees in employment-related injuries and sickness.
Employers’ liability is for lawsuits arising out of the employment relationship that are not employee injuries. For example, a boatyard worker comes home with asbestos on his clothing. His kids get sick because of the asbestos.
If he got sick, that would be workers’ compensation. A lawsuit by his wife or kids would be employers’ liability.
The basic statutory limits for employers’ liability are $100,000 per occurrence for bodily injury, $100,000 per employee for bodily injury by disease, and a $500,000 policy limit for bodily injury by disease. The coverage can be found on most workers’ compensation policies, listed as Section Two on the declarations page.
Bank Insurance 101 – A Webinar
Join me for a fast-paced informative webinar geared to bankers who buy insurance for their banks. In twenty minutes you will learn the basics of bank insurance:
–You will gain a new understanding of the policies you buy for your bank.
–You will hear ideas no insurance agent has ever shared with you. Ideas specific to insurance for banks.
–You will learn some important questions to ask your agent about your coverage.
–You will get access to resources that will help you make better insurance decisions for your bank.
The session will last about 20 minutes plus time for questions. Join us.
September 21, 2017 3:00 Eastern, 2:00 Central, 1:00 Mountain, 12:00 Pacific
Spots are limited. No cost or obligation.
