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Liability Insurance Further information on liability insurance, public liability insurance, products liability insurance and employers liability insurance. Most businesses will require some level of liability insurance. The main liability insurance that is required by law is employers liability insurance. If you are an individual with no employees trading as a sole trader or you trade as a partnership there is no legal requirement to have employers liability insurance.
Are you employing anyone? Or a limited company?
However, if you employ anyone then you are legally required to have employers liability insurance. A limited company is also required to have employers liability insurance. Even if the limited company only has working directors (who also probably own the limited company) then there is a legal requirement to have employers liability insurance. The limited company is a separate legal entity and the limited company is therefore the employer. The employers liability insurance must be taken out in the name of the limited company.
The main benefits of Employer’s liability insurance
Employers liability insurance covers employees against injury, illness or disease caused during the course of their employment. The legal minimum limit of indemnity any one claim is £5,000,000 however most insurers provide a limit of indemnity of £10,000,000 for employers liability insurance.
Get more Idea about Public liability insurance
Public liability insurance is insurance against damage caused to third party property or persons. For example, an electrician may damage someone's property when working on their premises. if proven to be negligent, this would result in a claim against them and the cover to protect the company or individual is public liability insurance. Public liability insurance is not required by law. However, it is a prudent and sensible insurance cover to take out. Many companies, when appointing sub-contractors insist on the sub contractor having public liability insurance. This can be for varying limits of indemnity, usually this is £1,000,000 or £2,000,000 any one event although increased limits of indemnity of £5,000,000 and higher can be arranged.
Public liability insurance tools
Insurance against damage caused to third party property or persons.
Products liability insurance
Products liability relates to damage caused by products supplied by a company, whether manufactured by them or not. This is usually only available as an extension to the Public Liability section. |
Insurance for industrial Business | Further information on commercial combined business insurance. Many businesses such as wholesalers, manufacturers, suppliers, wholesalers, importers and exporters, distributors & Printers will require insurance, but there is not always a simple package policy available. |
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: 01992 787 333 |
| FAX |
: 01992 787 733 |
| info@smiplacings.com |
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