There are a lot of different forms of maritime insurance coverage, so it can be a challenge if you’re trying to understand which ones your business needs. That’s why many businesses work with an insurance provider who has extensive experience with maritime coverage across many industries. Those experienced providers have the knowledge necessary to interview you about your operation and then calibrate your coverage to include features from across industries as needed, until they have a comprehensive policy that fits you. One of the more important items of coverage for many maritime companies is employer’s liability insurance.
What Is Employer’s Liability Insurance?
ELI covers employee injury on the job in many of the ways worker’s compensation insurance does. It is typically purchased by employers who need to protect themselves from financial exposure when employees are injured, and to protect those employees by making it easy to file claims for medical expenses related to those injuries. That way, they can recover quickly and get back to the job. Unlike workers compensation, though, ELI has policy maximums and other provisions that make purchasing well-calibrated coverage essential. That’s why working with an experienced provider is such an advantage. The more finely tuned your insurance policy, the more inexpensive it can be without compromising on coverage options and leaving you exposed.