As a marine company owner, you likely already know that you need worker’s compensation insurance. However, if you have employees who work on or near navigable US waters, you may not be aware that you could also need additional USL&H insurance coverage. Because the marine industry comes with potential liabilities, it’s important to protect your company against claims. Here are some foundational facts about usl&h.
USL&H Is Required in Some Cases
There are certain situations where specific businesses are required by the federal government to provide employee compensation in the case of injury or illness occurring from work on or near US waters. These situations include:
- Repairing vessels
- Building vessels
- Loading and unloading materials
If your employees conduct any of these functions by the water, you may be required to get additional insurance. Failure to have usl&h coverage when a claim occurs could lead to fines or imprisonment.
Several Types of Marine Companies Are Included
The usl&h act is aimed at a wide range of marine businesses. These can include:
- Ship repairers
- Ship builders
Talk to your insurance provider about getting extra coverage if your company falls under any of these categories.
If your marine company has employees that conduct operations on or near bodies of water, you may need additional USL&H insurance beyond simply your worker’s compensation insurance. Keep these essential facts in mind and you can find the right policy to meet your company’s needs and ensure compliance.