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Medical expenses, property damage, and legal defense costs can grow quickly. An uninsured business would likely not have the financial resources to pay a large legal settlement. Workers compensation insurance. These damages would then have to be paid from the assets of your business. . Employment practices liability.
In that case, professional liability insurance would generally provide the plumber with reimbursement for legal fees, settlements, and judgments. A variety of insurance policies—some legally required and others optional—serve as a form of risk transfer, meaning that they shift risk away from the contractor and onto insurance companies.
While E&O is not usually a legal requirement, many construction professionals take out an E&O policy to protect themselves against potentially devastating financial losses resulting from negligence. A construction contract creates a legal responsibility for the contractor to fulfill certain obligations to another party.
However, it’s important that when planning a holiday party, the excitement over its positive nature doesn’t get in the way of addressing the many safety and legal risks involved. Medical insurance and workers’ compensation premiums can also take a heavy hit. Harassment and Discrimination.
Intended to remedy the effects of past discrimination or underutilization of women and minorities. Indirect Compensation: Compensation that is not paid directly to an employee and is calculated in addition to base salary and incentive pay (i.e. The AAP’s effectiveness is measured by the results it actually achieves.
Given the legal risks involved with your superintendents, project managers and other employees, you should should be adequately prepared. Cell phones cameras, video and audio recorder capabilities, and text functions can be an employer’s worst nightmare when it comes to harassment and discrimination claims. Let’s Talk about Sex(ting).
The Owner will be required to deliver such materials to the job site or compensate the Contractor for providing labor to deliver Owner-furnished materials to the job. Non-Discrimination. The Contractor shall not discriminate against any person because of race, sex, age, creed, color, disability, religion or national origin.
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