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Employers Liability insurance is compulsory by law in most cases and Public & Products Liability insurance provides vital protection for you and your business. No matter how carefully you run your business accidents can and do happen. The simplest accident or dispute can be financially devastating and could ruin an otherwise successful business.
If you have full or part time employees, use casual workers or contractors you are required by law to take out employers’ liability cover. Cover will normally be for a minimum of £10,000,000, but can be increased by purchasing Excess Layer Liability Insurance, see below. Should an employee sustains an injury or become seriously ill whilst working for you Employers Liability insurance will pay for your legal and compensation costs. When taking out Employers Liability cover you will be required to supply your Employers Reference Number so that your details can be recorded on the Employers Liability Tracing Office (ELTO) database. Find out more about ELTO.
No matter where you conduct your business you should consider Public Liability insurance as a ‘must have’ even though it is not a legal requirement to have it. Public Liability insurance will protect you in the event that you are found to be negligent following damage to property you are working in or around and/or injury to a member of the public when you are carrying out your working activities. Not only will it cover your legal and compensation costs if you are found to be negligent, but it will also pay your legal cost to defend any allegations of negligence. Basic cover usually starts at £1,000,000, £2,000,000 or £5,000,000, for higher limits see Excess Layer Liability Insurance below.
Product liability cover is similar to Public Liability cover, so is usually packaged with it. It has basically the same cover but rather than covering your business activities it covers any products that you supply that may causes injury or damage to a person or property even if you didn't manufacture the product.
Excess layer cover is a policy designed to provide increased limits of liability over your primary Employers Liability Insurance, Public Liability Insurance and Products Liability insurance cover. Multiple layers can be purchased for higher Liability Limits.