Glossary

Employee benefits liability is the liability of an employer for an error or omission in the administration of an employee benefit program, such as failure to advise employees of benefit programs.

Employee benefit programs refer to benefits, such as health and life insurance, provided to employees at the workplace, usually paid for totally or in part by the employer.

Employee dishonesty coverage is insurance for employee theft of money, securities, or property, written with a per loss limit, a per employee limit, or a per position limit.

The employee hired autos endorsement (CA 20 54), broadens physical damage coverage provided to employees of the named insured who hire or rent cars in their own names in the furtherance of their employer's business.

Employee leasing is a permanent staffing method under which an employee leasing company (sometimes called a professional employer organization (PEO) or a labor contractor) provides all or most of its client's employees.

An employee leasing company is an organization whose business it is to furnish workers to another entity (usually referred to as the client company) on a long-term basis.

Employee pension benefit plans are created by an employer, a union, or both to provide for retirement income or the deferral of income (e.g., 401(k) plans, "traditional" defined benefit pension plans).

Liability under the Employee Retirement Income Security Act (ERISA) for the exposure arising out of the responsibility as an officer or fiduciary of a company for the handling of pension funding and other employee benefit plans.

Employee Retirement Income Security Act (ERISA) of 1974 is a federal law that established rules and regulations to govern employer-provided pensions and other employee benefits provided to US employees.

Section 404(c) of the Employee Retirement Income Security Act (ERISA) protects a fiduciary against liability for investment losses arising from allocation choices in employee-directed retirement plans (e.g., 401(k) plans) if certain requirements are met.