Did you know that your Directors and Officers Liability Insurance may be affected by the state of your Human Resource policies?
Specifically, on the Directors and Officers Liability Insurance Application form are several questions having to do with HR Policies:
- Does the Company have written policies or procedures in place with regards to termination, hiring, discipline?
- Is there an employee handbook? If yes, are employees provided with a copy?
- Does the Company have written policies or procedures for employee complaints, or harassment and/or discrimination, anti-sexual harassment policies and procedures, accommodating the disabled?
- Does the Company have written job descriptions for all positions?
- Does the Company keep a personal file for each employee?
- Are regular, written performance evaluations completed for and provided to all employees?
Of course these are basic and fundamental questions for any business, but the more important consideration is: Where does your company stand with regards to these important questions. By taking the proper time, and with the proper resources, you can and should be in good shape in regards to all of the above questions.
All of these questions can be answered yes, by utilizing our HR Power Centre.