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4. Employers’ Liability Insurance

20/10/2014

Employers’ liability insurance is as the name would suggest an insurance policy that covers the employer to pay an employee any compensation due if the employee is injured or becomes ill as a direct result of the work they do.

It is a legal requirement to have this insurance policy in place if you employ people and the minimum level of cover required is five million pounds.

There is a potential fine of £2,500 per day if you are not properly insured.
Failure to display your employers’ liability certificate or refusal to make it available to inspectors can result in a £1,000 fine.

It is therefore imperative that if your have any employees and do not have employers liability insurance to contact your insurance broker immediately and arrange cover.

Just a reminder that always ensure your company is health and safety compliant or you might not be able to claim on your insurance policy.

For further details on this and other topics keep an eye on this site.

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