Insurance companies provide coverage from potential liabilities arising out of various claims, sexual harassment claims being one of them. This coverage is provided through two types of insurances that a company can buy, the first being a Directors and Officers liability (D & O Insurance) and the second being an Employment Practices Liability Insurance (EPLI).
We provide assistance in selecting the D & O Policys and EPLI policys for employers.
The Ministry of Corporate Affairs vide a notification dated 31.07.2018 has amended the Companies (Accounts) Rules, 2014 making disclosure of compliance under the POSH act mandatory. The ripple effect of this amendment is immense as it goes a long way in promoting and protecting a healthy and safe work environment.
The current amendment in rule 8 of Companies (Accounts) Rules, 2014, is in addition to the Report by the Board of Directors under Section 134 of the Companies Act, which requires the directors to declare that they are in compliance with all the applicable laws and have devised proper systems in place, as per the mandate therein.