Employers And Employees

Having employees within a company brings with it many hurdles that then have to be overcome

. Despite the attractive pre conception, being an employer isn't all delegating, offloading and having cups of tea brought to you every 15 minutes, with it in fact comes responsibilities and duties that then must be accounted for. Being an employer of other workers would then put you in a position of authority, and as a result of this, in a position of obligation, the wellbeing and safety of those you employ being the responsibility of the employer. Because of this, Employers Liability Insurance exists as a means in which employers can be covered should any misfortune take place affecting an employee.

Employers' Liability Insurance protects an employer from liabilities that may arise from workplace conditions or practises that result in disease, fatality or injury to an employee. It is such an important policy, that it is often mandatory and therefore legally required for a company to hold if there are any existing additional personnel.

An insurance policy designed for employers is not usually thought of as being applied to contractors, but employers liability insurance is a very common and often essential form of contractor cover. The contracting community, although primarily made up of one man limited companies and sole traders, often includes contractors that employ one or two members of staff through their companies. It is situations such as this where Employers Liability Insurance becomes especially significant, as not only is the cover a lawful requirement, but it is essential cover should any error occur professionally that can result in an employee liability claim.

Cases resulting in liability claims being made against employers happen more often than one would think within the professional market, employers being at the brunt of some serious financial accusations. Contractors rarely have employees, most taking on close friends or family to look after finances or provide a substitute, but as a result of this nonetheless; employer's liability insurance would still be classed as a mandatory form of cover.

When it comes to calculating levels of risk concerning small business insurance, the overall premiums and levels of cover depend greatly on the profession, yearly salary and often number of employees of a company. Obviously contractors who require employer's liability insurance will have employees or at least one other operative working for their company, therefore when calculating risk, the insurance would reflect the number of employees.

It takes the most minor of accidents to land an employer in the firing line of a liability claim, from tripping over a cable to falling off a chair, and because of this, protective insurance should never be overlooked. Employers' Liability Insurance can guarantee a business meets unforeseen legal and compensation costs that come as a result of employer negligence. The insurance usually covers costs of up to 5 million, but can be extended depending on the prospective policy holder's requirements.

by: Chris Carvill

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