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The primary reason for professional liability coverage is that a typical general liability insurance policy will respond only to a bodily injury, property damage, personal injury or advertising injury claim. Other forms of insurance cover employers, public and product liability. However, various professional services and products can give rise ...
The insurance that employers must take out is referred to as Employer's Liability Compulsory Insurance (sometimes referred to as "ELCI"). [1] As well as being insured, employers must post details of the insurance for staff to see. This requirement applies to most companies; exemptions include public organisations and certain micro companies.
Nearly all employers are required to have insurance to cover payments for: (1) medical costs resulting from occupational injuries and some occupational illnesses suffered by workers; and (2) partial replacement of injured or ill workers' lost wages, also known as indemnity. [21]
Dangerous tasks are common in the construction workplace. Workers' compensation or workers' comp is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence.
AD&D insurance functions similarly to life or health insurance in that it pays out a defined benefit when a covered event occurs, such as accidental death or severe injury. The coverage is fairly ...
The cost of medical indemnity coverage for doctors increased rapidly, especially for those doctors performing high-risk procedures. [7] The widespread indemnity crisis forced some public events to be canceled and surgeries to be postponed. The Increased cost of insurance premiums adversely affected many voluntary organizations and small ...
The most common examples of statute liability are in areas where an individual is required by law to effect insurance, e.g. workers' compensation and motor vehicle compulsory third party. Property, hotel and operations managers should become familiar with the various types of contracts involved in commercial and retail activities.
At one point or another, we’ve all experienced the unexpected, intense pain of a muscle cramp. Muscle cramps, also known as muscle spasms or charley horses, are the involuntary contraction of ...