Office Liability Insurance Cover Details
Office liability insurance is needed in business because it is impossible to avoid accidents completely. When your employees cause accidents directly or indirectly, you need public liability insurance to protect your business against expensive claims. Public liability is usually triggered by simple things like an employee spilling a drink on a client’s laptop to complex contractor mistakes that cause damage to your clients or the public. Anyone working for you is capable of triggering a public liability claim against your business in cases where their actions (during working hours) injure a stranger or client or cause damage to their property.
Typical public liability insurance covers in the UK take care of legal costs up to £100,000 incurred defending a public liability claim. The insurance also covers you when you are forced to pay compensation because a client or a member of the public is killed, injured or their property is damaged and your business/company is liable. It is possible to combine a public liability cover with an employers’ liability insurance. Below is a detailed discussion of what employers’ liability insurance entails.
Employers’ liability insurance
Business owners can do their best to minimize the risks employees are exposed to in workplaces that result in injury and/or illness. It is, however, impossible to eliminate these risks completely. This is where employers’ liability insurance comes in. The insurance protects your businesses when your employees decide to launch claims against you or your business. It is important to note that all businesses in the UK with permanent staff are legally obliged by law to have employers’ liability insurance.
Typical Liability Insurance
Typical employers’ liability insurance covers in the UK vary in regards to cover limits. It could be anywhere from a few thousands to millions depending on the company size, risks covered and the insurance company. You must, however, take the insurance if you have employees to avoid heavy fines. Ideally, medium-sized companies should have a cover of at least £5 million.
Employer liability insurance is very important because employers’ liability claims are capable of crippling a company. Also, the claims are triggered in very many instances. For instance, voluntary employees are capable of launching very serious employer liability claims provided they are working under your supervision.
Employers’ liability insurance covers all your employees or people in connection with your business in the event of injury, illness or any other risks they are exposed to while working for you. The insurance also pays for you compensation and legal costs in case you are sued by your employees who believe work related duties cause them harm. It is also worth noting that some employers’ liability insurance covers in the UK cover illness and injury claims caused by terrorism. Such covers have a limit of £5 million.
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In summary, the above information is adequate enough to guide any business owner or employer interested in knowing about public and employer’s liability cover. As mentioned above, the two covers are usually taken as one in the UK among many other countries. Although it is possible for an employer to take employers’ liability insurance and ignore public liability insurance, it is not advisable to do so.