Each industry poses unique risks when it comes to insurance coverage. When you run a business that operates on or near a large body of water, then you need to take the specifics of your industry into account when selecting your policy. Maritime employer’s liability coverage is a type of coverage that is somewhat similar to workers’ compensation but with a few key differences.
MEL and Workers’ Compensation
The experts at https://www.merrimacins.com/ have stated that the differences between MEL coverage and traditional workers’ compensation policies are important to note when selecting your options. MEL, for example, is structured to cover your employees when they are working on vessels or docks that fall outside of your control. This is a way of providing coverage and protection for your employees at all times. Workers’ compensation, on the other hand, covers:
- Employees who are injured while working on your vessels
- Wage replacement benefits for injured parties
- Medical coverage after incidents of workplace violence
Understand Your Options
Knowing the key differences between these options can make all the difference when it comes to staying protected. If you are unsure of which choice is best for your needs, speak with an expert who can offer more insight on the matter.
Protecting your employees begins with the right insurance. Take your time and research your options to find a policy that makes the most sense for your industry.