As a company, being properly insured is one of the first aspects of running a viable business, and for many companies this can include Employers’ Liability insurance.

It is a legal requirement for any company in the UK to have Employers’ Liability insurance in place if they employ staff, whether that be a lone secretary or thousands of nationwide employees.

If you are found not complying with the law, it can have severe financial penalties. If you aren’t properly covered, which means having a minimum of £5m worth of cover, then you could be fined up to £2,500 for every day that you aren’t covered – this can also be backdated, meaning you could be fined up to nearly £1m if you go a whole year without Employers’ Liability insurance!

It’s important for us to have a good Employers’ Liability insurance policy, as many of the projects we undertake can be dangerous environments due to the nature of our work. Although all the necessary safety precautions are taken, accidents in the workplace or at a third party site are still a possibility.

Liability Insurance = Peace Of Mind

A comprehensive Employers’ Liability insurance policy doesn’t just offer peace of mind to the owners of the business, but it should also give peace of mind to the employees too, knowing that in the unfortunate event there is an incident in the workplace and an employee receives an injury, both parties can rest assured that the financial costs could be taken care off.

Employers’ Liability insurance is not the only type of Liability cover that can be taken out.

Many businesses across the UK will find that Public Liability insurance is also needed for their business. Whilst it isn’t a legal requirement, it offers many of the benefits of an Employers’ Liability insurance policy does, but aimed at members of the public instead of the people working within the business.

Whilst Employers’ Liability helps protect the employees and the employer, a Public Liability insurance policy will protect both the business and the general public, should anything happen to cause personal injury or damage to personal property.

Many businesses need a Public Liability insurance policy due to customers frequently visiting their premises or where a member of the public is in close proximity to work being undertaken.

It could cover something like a person tripping over on a wet floor, to them hurting or injuring themselves whilst on your premises.

Other examples of where a Public Liability insurance policy could come in to play can be seen in the Part Time Motor Trade industry, beauty salons, and retail outlets.

A Public Liability insurance policy isn’t just used to protect the insured against claims resulting from an incident on their premises; it can also be used to insure the business when working on projects at third party sites.

A lot of the work Varlowe takes on includes working on projects in various locations around the Midlands and even the country, so having the right insurance in place to protect the company, our employees and members of the public is a top priority for us.

Having the right insurance product for the business can be just as important as having the right machinery, tools and transportation.