Thursday, December 20, 2012

Protects Your Employers Risks with W G Bender Insurance Company

Protects Your Employers Risks with W G Bender Insurance Company in 2012

Employers need to manage a world of ever-changing risks, including compliance with federal, state and local human resource laws and regulations, and protecting themselves from mistakes made by directors, officers and other managerial staff or by the company itself.

To protect the interests of your company, make sure you have the appropriate amount and mix of risk transfer through Directors and Officers (D&O), Errors and Omissions (E&O), and Employment Practices Liability Insurance (EPLI) coverage. All of these policies protect the business owner from risks that come with having employees, but each has its own unique purpose that you should be aware of.


D&O provides coverage for negligent acts, omissions or misleading statements committed by directors and officers of a company that result in lawsuits being filed against the company.

E&O coverage protects people that give advice, prepare design solutions, make educated recommendations or represent the needs of others. It protects these people when they've done something they shouldn't have errors or when they neglected to do something they should have omissions.

EPLI policies protect an employer's risks from some of the most common employment-related lawsuits, including sexual harassment, breach of employment contract, wrongful termination, discrimination and failure to hire or promote. A survey of HR executives and in-house lawyers revealed that likely three out of five employers will be sued by a prospective, current or former employee while they are in business. Defending against a lawsuit like this is costly and time-consuming, even if the claims are groundless.

To best assess which coverages and how much of each you need as part of your business owners policy, it is important to evaluate your risk as it relates uniquely to your company. Consider what type of industry you operate in, the size of your business and the makeup of your organization, as risk can increase if you have shareholders. Warren G. Bender Company can help you evaluate these factors and decide on the best plan of action for your organization. It is the largest independently owned brokerage since 1938, provides innovative solutions in Sacramento and Western States region. Its long life has always been keyed to its remaining current, resourceful and willing to consider new ideas and strategies while carrying on the simple foundation of honesty and integrity.

As you know insurance is a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness or death in return for payment of a premium. It has been proved as a great support at the time of loss for the individuals having insurance bonds. The insured entities are therefore protected from risk for a fee, with the fee being dependent upon the frequency and severity of the event occurring. In order to be insurable, the risk insured against must meet certain characteristics in order to be an insurable risk. Insurance is a commercial enterprise and a major part of the financial services industry, but individual entities can also self-insure through saving money for possible future losses.

This article is written by Dillip K. Barik in courtesy of somekeyword, offers somekeyword from CA, USA.

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