If you work as a director or officer of a labor union, it is important that you take all the necessary measures to protect yourself from potential financial damages. There are many possible ways you could lose money while working for a union, however, most of them are covered by union liability insurance.
What Is Union Liability Insurance?
Union liability insurance is a type of insurance coverage that is specifically made to protect labor union directors and officers. It can pay for things like legal costs, repair costs, and even medical bills.
What Incidents are Covered By Union Liability Insurance?
There are a number of scenarios in which union liability insurance can protect you. Union liability insurance covers employment practices liability, the duty of fair representation, financial management of the union, and personal injury liability. Chances are, even if the worst-case scenario occurs, you won’t have to cover any major costs out of pocket.
How Much Does Union Liability Insurance Cost?
The cost of union liability insurance can vary a lot and is impacted by a number of factors. Some of these factors are things like your location and claim history. Ultimately, the largest determining factor when it comes to how much you’ll pay is the insurance company’s calculation of how likely you are to file a claim and cost them money.
Working for a union can be risky. Union liability insurance can help.