Combined Liability How It Could Revolutionise Your Business

Liability is a constant threat to every employer. From the moment you open your business’ doors, you are liable for the security of your employees and the members of the public who visit your business.

It’s important that you take steps to protect yourself and your business from a claim, should anyone be injured on your business’ property. Employer’s Liability is a legal requirement when it comes to running a business and the last thing you want is to be forced to manage several insurance policies.

A Combined Liability insurance policy allows you to combine both policy types into one cheaper, easier to manage policy.

Employer’s Liability Insurance

Employers liability insurance provides you with cover against a claim made by an employee following an accident. By law, you are required to take out an Employer’s Liability policy from the moment you take on your first member of staff.

Employer’s Liability insurance will pay the cost of compensation for injuries or illnesses sustained to your employees, whether it occurred on or off-site. It is worth taking note that Employer’s Liability does not cover motoring accidents.

The law also requires you to be covered for at least £5 million. Once you have purchased a policy, the certificate must be displayed in a place where your employees can view it.

Just because you have the cover, doesn’t mean you can take a lazy approach to health and safety! You will still be required by law to provide a safe workspace for your staff.

Public Liability Insurance

Whilst not a legal requirement, in these increasingly litigious times it’s a good idea to purchase Public Liability Insurance (PL).

We always recommend that a business purchase this policy if members of the public, clients or customers visit your premises, whether that be an office, warehouse or even your own home.

A PL policy will cover you in the event someone is accidentally injured by you or your business operation. It will also cover you if you damage third party property and it will assist you with the cost of expenses and legal fees that result from a claim.

It’s important you tell the insurer everything they need to know about your business so they can provide you with the adequate amount of cover.