Severance has more in common with funds available in an insurance policy than it does with money in your bank account. Find out more.
However, employees also have duties that often go overlooked. Reciprocal to the employer providing means for the employee to keep their heads above water while seeking new employment, an employee must look for a new job. In legalese, this is known as the employee’s duty to mitigate their damages.
If you have fire insurance and only half of your house was damaged, you do not have a right to access all of the funds in your policy for the undamaged half of your house. Given all of the above, there are a few key points to keep in mind should you find yourself seeking severance:
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