Mayur Shetty, TNN | Feb 16, 2014, 07.06PM IST
MUMBAI: For the corporate risk manager, the changing workplace has brought to the fore fresh challenges. More than worries about fire, floods of theft, for which insurance is available across the counter, concerns now are over litigious employees, cyber attacks putting the network at risk and business reputation being battered on social networks.
The new risks are a challenge because they cannot be covered by purchasing an off-the-shelf policy. The risks have arisen because of changing work environment coupled with changes in Laws. Take for instance the new law on sexual harassment on the workplace. "Companies are relooking at their employment practices legal liability (EPL) cover in light of the new law on sexual harassment. The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013" said Sanjay Kedia, MD, Marsh India.
The policy typically covers charges of discrimination or mistreatment as a part of the employment process. Most frequent types of covered claims include: wrongful termination, discrimination, sexual harassment, retaliation, inappropriate workplace conduct, including failure to promote, deprivation of a career opportunity, and negligent performance evaluation. It is a standard policy for Indian companies with operations or employees traveling to US where claims against employers are the most litigious space. Under traditional EPL covers, defence costs are not covered if there is even an allegation of any breach of law. Companies, especially those with operations and employees in US are looking at solutions. Marsh is offering its corporate clients a package where defence costs can be covered.
http://timesofindia.indiatimes.com/business/india-business/Harassment-laws-cyberattacks-and-social-media-throw-up-new-challenges-for-corporate-risk-managers/articleshow/30524964.cms
MUMBAI: For the corporate risk manager, the changing workplace has brought to the fore fresh challenges. More than worries about fire, floods of theft, for which insurance is available across the counter, concerns now are over litigious employees, cyber attacks putting the network at risk and business reputation being battered on social networks.
The new risks are a challenge because they cannot be covered by purchasing an off-the-shelf policy. The risks have arisen because of changing work environment coupled with changes in Laws. Take for instance the new law on sexual harassment on the workplace. "Companies are relooking at their employment practices legal liability (EPL) cover in light of the new law on sexual harassment. The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013" said Sanjay Kedia, MD, Marsh India.
The policy typically covers charges of discrimination or mistreatment as a part of the employment process. Most frequent types of covered claims include: wrongful termination, discrimination, sexual harassment, retaliation, inappropriate workplace conduct, including failure to promote, deprivation of a career opportunity, and negligent performance evaluation. It is a standard policy for Indian companies with operations or employees traveling to US where claims against employers are the most litigious space. Under traditional EPL covers, defence costs are not covered if there is even an allegation of any breach of law. Companies, especially those with operations and employees in US are looking at solutions. Marsh is offering its corporate clients a package where defence costs can be covered.
http://timesofindia.indiatimes.com/business/india-business/Harassment-laws-cyberattacks-and-social-media-throw-up-new-challenges-for-corporate-risk-managers/articleshow/30524964.cms
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