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By asking if a business client has a human resources department, a broker can quickly find out about that client's liability exposure.

"From an underwriter's perspective, having an HR department suggests that a set of rules likely exist and are followed," added Denis Panariti, CNA Canada's underwriting manager of management liability and financial institutions. This would help underwriters get comfortable with an insured's legal exposure.

An HR professional would know about legal requirements and what written policies, such as pay and vacation, a workplace should have. For example, Ontario Bill 148, passed into law in November 2017, is omnibus legislation that raises minimum wage and increases the length of leave, among other things. It is just one example of a law of which employers should be aware, Panariti said.

Continue reading the full article published by Canadian Underwriter.