As an employer, you are responsible for the health and safety of your employees while they are at work – be that in an office, a shop or a building site. Should one of your employees, past or present, believe you are responsible for their injury or illness they are suffering, they might try to claim compensation from you.
Employers’ Liability insurance can cover you for these sorts of claims. It’s also compulsory by law if you have employees within your business, so it’s important that you get it right.
What does Employers’ Liability Insurance cover?
Employers’ Liability Insurance covers any person working for you helping to run your business – even if they are voluntary help or self-employed. It comes in to play protecting your business by paying your legal and compensation costs if a staff member, believing their work has caused them injury or made them ill, sues you. Aside from being a legal requirement, any serious business owner will want to mitigate any present risks. Therefore, if you have employees, this cover is an important addition in protecting you, your business and your employees.
Why do you need Employers’ Liability Insurance cover?
Any accident in the workplace has the potential to start an employers’ liability claim from an employee. After all, if you were unable to work because you suffered an injury in shop while purchasing your groceries, wouldn’t you look for some form of compensation? Obviously, you’ll do your utmost to cut risks within your workplace with good health and safety, but accidents still happen. Employers’ Liability Insurance provides cover for unforeseen legal and compensation costs and we add it to any one of our insurance packages.
How much Employers’ Liability Insurance will you need?
If you have employees, you are legally required to have at least £5 million employers’ liability cover in place. Obviously, the level of cover should reflect the amount of risk faced by your business, but in some cases, £5 million of cover is all you may need but it’s important for you to be aware of any circumstances in which you may need to choose a higher limit of indemnity. As it is a legal requirement, you could end up with a fine if you aren’t covered. If you have any doubts about the level of cover you need, call the team who will be happy to talk you through your options.