Lexology (04/18/12) Neal T. Buethe
Even when a company has employment practices liability insurance and fidelity bond coverages, the company can complicate or lose this protection if it improperly tenders a claim to the insurance company. Companies should take the policy-prescribed steps to secure coverage and work with legal counsel to protect the company’s rights while perfecting tender. This means not compromising the claim, allowing it to default, or making assurances to employees. It also means immediately reviewing the policy’s notice and tender provisions and then making a timely, documented submission to the insurer that tenders the matter for coverage under the terms of the policy.
Exclusive Guide From Gibraltar—Factoring for Staffing Companies
Whether your firm needs working capital to hire new talent, maximize a marketing opportunity, or extend client payment terms, factoring allows staffing companies to convert unpaid invoices into cash today. Download now to get answers to the top 10 questions related to accessing working capital via invoice financing.