Employers’ liability insurance

Save money by understanding employers’ liability insurance

Today’s guest post examines why you need to look closely at employers’ liability insurance:

Liability is an odd area of the law. It can be very harmful to any business, yet it’s a very broad area. Whilst not everyone in business may have to deal with public liability, employers’ liability insurance is something that affects virtually all businesses.

Of course, like anything else, it always helps to understand employers’ liability from all possible angles. The more you know, the better you can be prepared. So, whether you employ people yourself or are working for someone else, it helps to understand all sides of any situation. For more information why not have a look at Axa employers liability online.

For employers
As an employer, even if you’re working from home, you have various duties and obligations when it comes to your staff. When this falters, you open yourself up to the potential for liability. This could be as simple as personal injuries, but can also include illness and other compensation claims.

Likewise, it extends to anyone you employ. This includes volunteers and part time workers; it can even include contractors, sub-contractors and non-contract staff. In short, if they’re working for you they can claim liability if they suffer because of your actions or negligence.

Because of this, insurance is always recommended, even in the rare instances it’s not a legal requirement. Such claims can be expensive and troublesome. Not least of all, insurance can help protect you from these costs, as well as other important areas, such as having a shortage of staff for a temporary period; the side effects of such incidents that are just as important to running and maintaining a business.

For employees
When working as an employee, your employer should ideally have an employers’ liability insurance policy. This is, more often than not, a legal requirement anyway, so not having one is a strong sign that this might not be somewhere you want to work.

Such insurance is a good sign because it shows that, should something go wrong, you’ll be able to get compensation. Insurance suggests the company or employer can pay regardless. Likewise, it ensures this without directly harming the company itself, both financially and through any potential absences.

In short, this is just a brief look at employers’ liability insurance, yet its potential for expenses and costs should be clear. Even if you are self-employed, there are times when you work with other people so knowing the ins and outs of liability and the relevant insurance, regardless of whether you’re the employer or not, is always an advantage.