Without an employers’ liability insurance policy your business is at risk

Whether you employ a large team or just one individual, it is a legal requirement for all employers to have an employers’ liability insurance policy in place.

Running a company may come with its own headaches, but arranging the right employers’ liability insurance policy doesn’t have to be one of them.

With professional help from an experienced broker, it‘s never been easier to meet your employer responsibilities.

Naturally, you want to look after your staff and ensure their wellbeing during working hours – an employers’ liability insurance policy does just that. It enables employers to cover the cost of compensation claims made against them by employees for accidents or illness, which occur during working hours or as a direct result of an employee’s work and working conditions.

The type of employers’ liability insurance policy you need will depend on the nature of your business; you may need a higher limit of indemnity, for example. Only a qualified insurance broker can advise you on this, so make sure to get all the information you need beforehand.

Because employment law is always changing, it’s your job to make sure you have the right employers’ liability insurance policy in place. If you don’t then your business could be in jeopardy. In one known case an employer at a small electrical firm was forced to pay £17,500 in compensation after an apprentice suffered an electric shock whilst at work.

The employer had not taken out employers’ liability insurance as he didn’t think it was necessary with only a few employees. Weeks later, a Health and Safety Executive (responsible for enforcing the law on employers’ liability) found that the employer had not had employers’ liability insurance for at least 300 days. The employer was fined £2,500 for each day that he wasn’t insured correctly, which meant that the business had to cease trading.

Although this is an extreme case, it does demonstrate how serious employers’ liability insurance is. If you are unsure whether you comply and would like more information, we can help. We are here to ensure that you get the best deal for the most appropriate cover.