It’s often said that a business lives or dies by its employees, and that’s true. But you have a bewildering array of obligations and duties towards your staff, and the list seems to grow longer each day. Some of these hazards are the subject of compulsory insurance, but others, some of them far from obvious, but capable of severely damaging a business, are solely the responsibility of the employer. Even when a claim is eventually unsuccessful, the cost of defending it can often be crippling. A good insurance policy will also cover the cost of defending a claim.
The increasing volume of legislation protecting employees from capricious, oppressive or unfair management practices means that it is becoming ever more likely that a business – however well run it may be – may find itself defending, and perhaps paying a claim for wrongful dismissal, discrimination or any one of the many other grounds an employee may have for complaint. These now include:
- Wrongful termination
- Sexual harassment
These grounds are relatively simple to understand, but employers also face growing numbers of claims on less clearly-defined and more contestable grounds. These can include employment-related:
- Defamation of an employee
- Failure to promote
- Invasion of an employee’s privacy
- Deprivation of a career opportunity
- Negligent evaluation of an employee’s skills and performance.
Sydney Insurance Brokers can help you protect your business against these risks, with insurance cover tailored to your full- and part-time personnel. Our Employer Practices experts will help you clarify your obligations, identify your exposure, and arrange the correct cover at competitive rates.