Hi everyone! Welcome to #RiskyBusiness I’m Molly with the VGM Insurance agency team. Today we are going to talk about
EBL. EBL stands for Employee Benefits Liability. This is coverage for errors
and omissions committed when administrating your employee benefits.
Employee benefits can include things such as life health dental and vision
insurance that you provide to your employees, or a 401k for example.
Consider an employee enrolling in health insurance and during the administration
there was an error made. When this employee is then injured comes to find
out that they have not actually been enrolled in the health insurance plan
provided by the employer. This is where EBL insurance would come into place to
help cover that cost. This process can be very hands-on and mistakes are
inevitable, so this coverage is very important. This
can be endorsed on to your general liability policy and is generally very
inexpensive. Review your current coverage and consider if EBL is the right
coverage for you. Stay tuned for more #RiskyBusiness tips and contact our team
any time. Thanks for watching!