Businesses operating in today’s ‘compensation culture’ are at increasing risk of being sued, over everything from personal injury and illness to defamation and breach of contract. Not every business –especially small-sized enterprises – can afford a team of lawyers to negotiate these legal issues, which is why choosing to protect yourself or your business with a range of professional insurance products makes perfect sense.
Choosing the right insurance policy for your company can be difficult, however, but we can provide you with advice to guide you in the right direction. Two of the basic, essential covers are employers’ liability and public liability insurance.
Employers’ Liability Insurance
A minimum level of this kind of cover is a legal requirement in the UK if your business has employees. There are exceptions in the case of single member limited comnpanies. This insurance policy is a form of financial protection if an employee makes a compensation claim for personal injury claiming that your business is liable. These kinds of cases can be expensive and drawn-out, and they do nothing for your company’s reputation. Cover is at a minimum £10,000,000 and is available as part of several policy types – package policies (offices, shops/retailers, pubs etc), tradesman liability policies and liability policies for professionals. More info on our Employers liability page.
Public Liability Insurance
This kind of cover is not legally required, but it is highly recommended. Public liability insurance covers injury or illness (i.e. slips, trips and falls) befalling visitors to your premises and the subsequent compensation claims victims may make against you. It also covers you if you cause injury or damage to property or persons when you or your employees visit third party premises (eg your customers or suppliers). More info on our public liability page.