Employee Handbooks
An employee handbook serves as a vital communications tool between a company and its employees. When well prepared, it informs employees about their employer’s mission, its employment policies and perks, and the consequences of not following the rules-all in a tone appropriate to the reading audience. A comprehensive, clearly written employee handbook also can be a protective shield for an employer to use in a lawsuit or less formal employee confrontation situation.
Set the tone for your handbook by opening with a bit of history about your company, its goals and mission, and how employees fit in to this. Your employees, and the products they produce or services they provide, are the face of your company, and your handbook should inspire them to strive for excellence, both individually and as a team. Review the process for employee evaluation and opportunities for employee advancement.
Your handbook should summarize the benefits provided to employees. Briefly describe the health, disability, life, other insurance and retirement benefits plans your company offers, along with work/life programs, absence, vacation and leave policies, and government-mandated benefits. Only brief summaries are appropriate, as the employee handbook is not intended to provide the level of detail found in a summary plan description.
Safety in the workplace is important for all companies, regardless of industry, and guidelines ensuring this belong in an employee handbook. Rules regarding building security, drugs and alcohol, weapons, and workplace violence should be covered, along with issues specific to the line of work your company is in that impact safety, such as workplace chemicals, protective gear, etc. Also let employees know the procedures to follow in case of an emergency.
Your employee handbook should also cover workplace rules that comprise what amounts to an employee code of conduct. These include, for example, policies on harassment, discrimination, any dress code, and the like.
The handbook is also the place to inform employees of the consequences of not following company rules, whether they be regarding attendance, company property, workplace decorum or job performance. Clearly spell out grounds for firing, along with procedures for disciplinary action, including warnings, probationary periods and termination.
Advances in technology (and its availability in the workplace) have added new layers to employee handbook content. In addition to the topics covered above, today’s employee handbook needs to address appropriate uses of technology in the workplace, and what employees can and can’t do while on the job (blogging, visiting Facebook and Twitter, online shopping, etc.). Parameters of email communications also should be addressed, including transmission of chain mails and links to inappropriate Web sites.
The process of writing the handbook can be farmed out to a firm specializing in employee communications, or undertaken in house. Templates are available that can be used for this purpose; they contain the basic information common to most employee handbooks, and beyond this can be customized to your company. If using the template approach, be sure to run the finished product past your company legal counsel or human resources professional for a final review.
At Cleary, we know how important a comprehensive benefits package can be to your continued success. Give us a call today at 617-723-0700 and we will work with you to create a plan that meets your business objectives, takes into account state and federal laws, and capitalizes on incentives and innovative solutions now being offered.
Inland Marine Policies
Inland Marine policies, as compared to Ocean Marine policies, are meant to cover non ocean related property that is under construction, moves from place to place or is of special or high value. These features usually do not make them good candidates to be insured by standard business property policies.
The term “Inland Marine” covers policies that have many different names to describe what they cover. When you see a building under construction, it would be insured under a Builders Risk policy. Cargo in transit would be insured by a Cargo policy. Contractors Equipment would be insured under an Equipment policy. Jewelry stores inventory is covered by a Jewelers Block policy.
What are some of the benefits of insuring property under an Inland Marine Policy form?
- Most of them have broader coverage than standard property policies
- Most use a rate structure that is more advantageous to the insured
- Many insure the property in question under a “stated” value, meaning the stated value of the property insured is what you would receive if it were destroyed or lost as compared with Actual Cash Value which is a depreciated value
These coverages can be written as a stand-alone policy or added to a commercial property policy by endorsement. The industries where you typically see Inland Marine coverage are construction, warehousing and transit and where there is a “bailee” exposure, such as a dry cleaner. Loss to the property of others in their possession is covered under an Inland Marine form.
If you think that you may have an Inland Marine exposure or if you have coverage but are not sure if it is sufficient, please call Mike Regan at Regan Cleary Insurance.
At Cleary, we will evaluate your business exposures and work with you to develop a comprehensive plan to safeguard your business. We are members of the National Association of Surety Bond Producers (NASBP), the professional organization for agents that also specialize in surety bonding. Give us a call today at 617-723-0700.
Summer Activities
Liability risk is everywhere: at home, on the road, on vacation. It’s an unfortunate fact that accidents can stem from everyday activities and lead to costly lawsuits. Do you:
- Own a pool or trampoline?
- Entertain?
- Have excited pets?
- Spend time behind the wheel?
- Have a teen driver in the household?
- Own a recreational vehicle or boat?
- Have staff in your home (gardeners, nannies, housekeepers)?
These are all factors that increase your risk for a lawsuit. Therefore it is important to make sure you understand the risks you face and the options you have to manage those risks.
In today’s litigious society, every family with significant assets faces the risk of lawsuits that could significantly impact their net worth. That’s why we recommend you consider the need for an Excess Liability policy. Financial planners suggest that clients should have excess liability coverage at least equal to their net worth.
Personal Excess Liability policies, more commonly known as Umbrella policies, are very important to your financial well-being and the cost is minimal: usually about $300 annually for the first $1,000,000 in coverage.
Umbrella policies pick up where your homeowner and auto policies leave off. For example, if you are in a car accident and your auto policy provides $500,000 in coverage, and someone is seriously injured, you could be sued for much more than $500,000. The umbrella policy would then take over. The policy would pay for medical bills and in the event of a lawsuit, pay legal fees and the settlement – up to the limits of your policy.
Contact us today so we can customize a policy that balances your assets and risks to provide you with peace of mind.
Concerned about your personal insurance coverage? At Cleary, our experienced Personal Lines department will work with you to evaluate your insurance needs, identify exposures and create a customized insurance portfolio. Give us a call today at 617-723-0700.