Liability Insurance?
My husband has been offered a post but they want him to "contract" the position and carry his own insurance. The health ins. piece of this is not our concern yet they also said he would need to achieve his own Liability Coverage and we are not sure what this intails. My husband is an underground miner, risks are high and so is ins. He would actually be a contractor overseeing the progress/safety of another contractor doing the work. Does anyone know what this company is asking of him and what the ramification are if someone got injured or worse, killed?
Answers:
I agree with Xeod answer. I think his employer is discussion about Workers Compensation. Source(s): Agent 37 years
The significance of being a contract member of staff is key. The Company does not want to protect your husband with their own coverage. In the event of loss, the Company will be sued regardless and as an member of staff your husband would be covered by the Company's insurance and not be held personally liable for a loss.
If he is responsible for overseeing a project, he could be held liable for several things including success or disaster of the project being completed.
If there be defects in the workmanship that resulted contained by injury or lost time he could be held personally responsible.
I would suggest some type of professional liability insurance carrier. Be fussy the type of coverage. You would prefer a "per occurrence" policy as opposed to "claims made" coverage. In the event he can not get coverage, I would re-examine taking the position.
It appears to me that the company is trying to avoid the responsibility for workers compensation coverage for their workers. If a worker is an "employee" as defined by the state labor law, the company (employer) will be required to maintain workers compensation insurance for him. Mining operations are among the most hazardous out in that and the cost of WC insurance is very, very glorious. If the company can make your husband assume the status of an independent contractor & not an employee, they avoid the expense of WC insurance. This is a adjectives tactic in many places, especially within the buidling & contracting business. One of the factors that will decide if your husband is an hand or not is if he has established himself as a separate business by having his own liability insurance. That is, I suspect, the foremost reason why the company is asking him to carry this.
You utter that the health insurance part of this is not a concern, but what do you enjoy available if your husband would be injured on the job? Most health & twist of fate insurance excludes job related injuries unless you are paying the extraordinarily glorious premiums for the coverage. I would look very carefully at what you are one offered and what protection you have for an injury in this hugely hazardous job.
Further, Willie J. is quite correct something like the significant exposures your husband would face if he was held liable for injuries or damages on the brief. I would suspect that liability insurance, both "General" (basic) Liability and Professional Liability would be quite costly.
I can't tell you what verdict you & your husband should make, but I would caution you to be immensely careful about what contracts are signed and what financial responsibility is self placed upon you. Be wary of what the company says - it's what's contained by the written contract that counts. For the record, I would not take a business deal like this and if any of my family or friends be considering it, I would advise them to avoid it. Source(s): 30+ years as a commercial liability & WC underwriter.
I would suggest some type of professional liability insurance carrier Source(s): http://www.freewebs.com/a2z-insurance/
Related Questions:
Answers:
I agree with Xeod answer. I think his employer is discussion about Workers Compensation. Source(s): Agent 37 years
The significance of being a contract member of staff is key. The Company does not want to protect your husband with their own coverage. In the event of loss, the Company will be sued regardless and as an member of staff your husband would be covered by the Company's insurance and not be held personally liable for a loss.
If he is responsible for overseeing a project, he could be held liable for several things including success or disaster of the project being completed.
If there be defects in the workmanship that resulted contained by injury or lost time he could be held personally responsible.
I would suggest some type of professional liability insurance carrier. Be fussy the type of coverage. You would prefer a "per occurrence" policy as opposed to "claims made" coverage. In the event he can not get coverage, I would re-examine taking the position.
It appears to me that the company is trying to avoid the responsibility for workers compensation coverage for their workers. If a worker is an "employee" as defined by the state labor law, the company (employer) will be required to maintain workers compensation insurance for him. Mining operations are among the most hazardous out in that and the cost of WC insurance is very, very glorious. If the company can make your husband assume the status of an independent contractor & not an employee, they avoid the expense of WC insurance. This is a adjectives tactic in many places, especially within the buidling & contracting business. One of the factors that will decide if your husband is an hand or not is if he has established himself as a separate business by having his own liability insurance. That is, I suspect, the foremost reason why the company is asking him to carry this.
You utter that the health insurance part of this is not a concern, but what do you enjoy available if your husband would be injured on the job? Most health & twist of fate insurance excludes job related injuries unless you are paying the extraordinarily glorious premiums for the coverage. I would look very carefully at what you are one offered and what protection you have for an injury in this hugely hazardous job.
Further, Willie J. is quite correct something like the significant exposures your husband would face if he was held liable for injuries or damages on the brief. I would suspect that liability insurance, both "General" (basic) Liability and Professional Liability would be quite costly.
I can't tell you what verdict you & your husband should make, but I would caution you to be immensely careful about what contracts are signed and what financial responsibility is self placed upon you. Be wary of what the company says - it's what's contained by the written contract that counts. For the record, I would not take a business deal like this and if any of my family or friends be considering it, I would advise them to avoid it. Source(s): 30+ years as a commercial liability & WC underwriter.
I would suggest some type of professional liability insurance carrier Source(s): http://www.freewebs.com/a2z-insurance/
Related Questions:
- What liability should I consider when purchasing Condo Insurance?
- My topical company requires me to hold my own 3rd shindig liability insurance. Can you recommend somebody?
- Dog liability insurance?
- Can I receive public liability insurance for 1 daytime?
- Has anyone gotten liability insurance for a nuptials through Wedsafe? Are they a reputable company?