Many businesses, companies and organizations today face quite a few tort claims filed against them by their employees, requesting compensation for bodily harm, caused to them as a result of an accident or illness, that occurred during their work.
The plaintiff employees alleging negligence may oblige the company to pay quite a lot of money if their claim is accepted. Employers’ liability insurance is designed to provide protection and insurance coverage for the company, and to allow it to manage its activities and work relations with its employees, in a way that will allow it to maximize its profits, in an optimal way without fearing lawsuits.
The insurance allows the company to receive financial compensation for damages awarded by the court or determined as part of settlement agreements between the parties, as well as for reasonable legal expenses, which it incurred as part of that procedure.
In a reality where more and more lawsuits are filed in court by employees against their employers, companies and businesses today understand the growing need to purchase this insurance, since such a lawsuit could result in significant damage to the business and its owners, and when it comes to a small or medium-sized business, even put them at risk of closure.
Lamda experts are at your disposal today and provide you with comprehensive, professional and personal insurance solutions that can help your business, company and organization reduce legal risks and exposures, including employers’ liability insurance.