The UK Government requires every person or company who is an employer to get employers’ liability insurance. Employees injured or sick during the course of working for their employer will be covered by the insurance. Furthermore, £2,500 is fined every single day an employee remains without this cover. If inspectors do not see or view a displayed certificate of the insurance, a fine of £1,000 will be required.
While insurance may seem like an unnecessary cost, especially when accidents seem unfeasible, it is of vital importance, just in case the worst happens. Every employee requires coverage for injury or sickness while carrying out their duties for the company.
What employers’ liability really means
Generally, this liability insurance protects employers from any compensation claim by any employee in the course of duty. Whether it’s injury or illness while working for the employer, the workers will be well covered. The legally-demanded insurance kicks in when a company or self-employed individual employs just one person. As soon as you take on staff, you need insurance.
For instance, an employee may suffer a fall or get sick in the course of their duty. As such, employers’ liability will cover their medical bills as well as legal fees.
Also, this liability insurance can cater to claims raised by former employees. Some illnesses and complications might take a while to show or depict their symptoms. As a result, former employees might demand compensation, perhaps months or years after they left your company. This liability cover can insure all these.
For instances of former cases, it is important to ensure you’ve safely stored every document related to the insurance. It is wise to keep records of the insurance, whether the cover has expired or not. Also, ensure the insurer has your Employer Reference Number to make the process of tracing past workers easier.
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