Employers Liability Insurance
People get hurt on the job. As awful as it is, work-related injuries are common, especially in service industries and construction zones. It's an event every business needs to prepare for to make sure not only that the employees are secure and covered but also that the company is protected. With employers liability insurance, you can make sure you stay protected while liable for injuries your employees might obtain while on the job.
What Is Employers Liability Insurance?
Employers liability insurance is actually a portion of insurance that's enveloped within workers' compensation. Because it's the main type of commercial business insurance, it will be hard to conduct your business without it. In fact, as a part of workers' compensation, this insurance policy is included and required. While workers' compensation mainly focuses on the lost wages and medical fees an injured employee accrues, employers liability insurance is focused on the legal lawsuits and judgments.
When an employee becomes injured at work, your business is liable for their injury. Should the employee choose to sue you because of what happened, the employers liability insurance will pay the costs and legal fees for your company. Legal counsel will be covered under this insurance, helping your business settle a claim productively.
While this insurance does go to the employees of a business, it's also extended to the employees' family members as well as other third parties who may be interested in pursuing legal action. As long as negligence is proven to result in the injury that occurred, the employee is covered and will receive benefits.
What Does Employers Liability Cover?
Employers liability insurance is important to understand because it can impact your business if an employee is injured. New York has unlimited employer liability insurance for instances covered by the New York Workers’ Compensation Law. It works to protect a business from the legal liabilities not covered by the standard worker's compensation policy. Employers liability covers four main claims:
- Third party over actions: Third party over actions claims come from outside sources involved in the employee's injury. If an external manufacturer or production has been named and sued, their claim against your business will be covered.
- Loss of consortium: Loss of consortium is the claim set forth by the injured employee's spouse — they might sue because their relationship and marriage have seen sacrifices because of the injury.
- Dual capacity suits: A dual capacity suit is similar to a third party over action claim in that the manufacturer of a piece of equipment that injured an employee can be sued. The main difference here is that the employer is also the manufacturer, therefore receiving double the lawsuits and legal fees.
- Consequential bodily injury: A consequential bodily injury is another claim that can be made by the injured employee's family. They can file a lawsuit against the company if they have also received a physical or mental ailment — depression, increased anxiety or severe nausea — due to the employee's initial injury.
Why Would I Need Employers Liability Insurance?
If a worker is injured at your business due to machinery failure, they may collect workers’ compensation benefits but may also sue the manufacturer of the machinery. The manufacturer may then sue you, alleging the equipment was not correctly installed, maintained or used. In this situation, you have unlimited coverage under employer’s liability insurance. Your employers and public liability insurance in New York may cover your legal costs as well as any settlements awarded.
This type of insurance can also help protect you in the event that a worker files a lawsuit against you following a workplace injury. In general, workers’ compensation is meant to protect you against lawsuits from current and former employees in situations of workplace injury. However, if a worker was denied workers’ compensation benefits, they may be able to file a legal claim against their employer. Employers liability coverage provides coverage for legal costs and any judgments awarded.
Can My Business Secure Stand-Alone Employers Liability Insurance in New York?
Stand-alone employers liability insurance in New York is less common since this policy is most often part of a workers’ compensation claim. However, you may wish to seek additional employers liability coverage in New York or a stand-alone policy in a few cases. Your policy won't cover you outside the United States and may not cover you outside the state, so if you have a global or national business, you may need to add to your insurance. If you have workers in the United Kingdom, for instance, you're required to have employers liability in that country.
What Do I Need to Consider When Looking at Employers and Public Liability Insurance in New York?
You'll want to understand the limits of assumption liability coverage in New York. Company employee insurance in New York covers only liability under the law and not liability assumed under contract. You may need a general liability policy if you have some liability assumed contractually.
Finally, it's important to consider policy periods with your employers liability insurance. This type of insurance is written per-occurrence. For work-related illnesses, this means coverage applies if a worker was exposed to conditions causing or exacerbating the illness during the policy period. For injury, it means the coverage applies if the injury took place during the policy period.
How Do I Find the Right Employers Liability Coverage in New York?
Consider whether you have employees just in New York or in other states or countries. You should also consider whether your workers sometimes travel outside the state or country for work. If so, your coverage will need to cover these workers, as well.
If you're purchasing employer liability insurance in New York as part of workers’ compensation coverage, check to see whether you're covered and what you're covered for. Most company employee insurance in New York covers you for legal costs, as well as judgements and settlements stemming from a worker injury claim, but you'll want to pay attention to exceptions and limits.
If you have questions about assumption liability coverage in New York, workers’ compensation, employers liability coverage or other protection for your business, contact Kokkoris Insurance Services for a free consultation and quote. Our professional team can take the jargon out of insurance and talk about what matters to you — how to protect your organization and offer you peace of mind, so you can focus on your business.
Why Kokkoris Insurance Services?
Whether you have questions about employers indemnity insurance in New York or want a quote for employer liability coverage, contact us. For more than 25 years, we've been helping businesses like yours choose the right coverage on budget. We work at finding the right policies and finding the best costs, so you don’t have to. We also stay on top of insurance changes and trends, so we can bring you the most up-to-date information to help you enjoy robust protection.
If you're a new business, you obviously need employer liability insurance. If you have had the same policy in place for a while, however, you may also want to get in touch Kokkoris Insurance Services for a free quote. Your insurance needs may have changed, as has the industry. We can work to ensure you're properly protected and have the most competitive premiums possible.
So if you have questions about these or other aspects of insurance — or need employers indemnity insurance in New York — we can help. Our professional team has decades of combined experience, and we offer customizable, affordable insurance solutions designed to fit your needs.
Our responsive team is there when you need us, and we grow your insurance with your business, allowing you to add and change your insurance as your needs change. In a free quote and evaluation, we can discuss your risks and help you understand how much you can save on robust coverage by working with us.
We Want to Work With You
Get in touch with our team right away by phone or email so that we can start on finding you the right insurance solutions!
Where to Find Us
Kokkoris Insurance Services works with companies and businesses all around the five boroughs of New York, even extending out to Long Island. Contact us by phone or email, and our brokers will work directly with you to find the best-priced insurance policies to meet your coverage needs.