Employers’ liability insurance explained
Employers’ liability insurance is a legal requirement in the UK, though there are a few exceptions. If you have employees then in most cases you will need to adequate insurance place to make sure that they and you are protected against the unexpected.
What does employers’ liability insurance do?
This policy typically provides financial protection in the event that an employee makes a claim against you for an injury or illness sustained while going about their day to day business or on your premises.
If you run a business, you may think that nothing will ever go wrong – for example, you will never be sued or accused of negligence. However, some things are beyond our control and things can, and do, go wrong. And in today’s society, where suing people is the norm, your livelihood could be at risk if an employee decides to make a claim against you for something unexpected.
Professional indemnity insurance can help your business to overcome unexpected hurdles and minimise any financial loss – as well as the undoubted stress you will personally face – in the event of a claim against it.
If you were faced with a business claim against you or your company, [KEYWORD] could step in and provide a number of benefits, such as assistance with legal costs and claims for damages. This would keep your business running where it otherwise may fail.
So, where do you go if you want to buy employers’ liability insurance cover? Specialist providers of liability products may be an option – they will often have unlimited expertise in the sector, as well as a choice of policies, enabling them to provide cover that is suitable for your needs.
Do note that as with all things financial and legal, policy terms and conditions do vary among the different providers. Check the small print to confirm the amount of employers’ liability cover you have; any excesses; and how long a policy must be in force for before you can claim.
Employers’ liability insurance is not just a legal requirement – it provides a financial safety net should your business be the subject of a claim against it, so never under estimate its importance.
