Employers liability cover – Do I need it?
If you run any type of business, especially a business that is any way manual in nature, and have any type of employee’s involved in your business, then employers liability cover is vital. Of all of the claims we see for businesses over the years, employers liability claims rank near the top. As well as being one of the most common claim types, Employers liability claims are often high in cost as they usually mean that an employee has been injured and cannot work for a long period of time and the claim will have to be sufficient to cover their loss of income. In the UK, because these types of claims are so common, every business must hold EL insurance.
If an employee is injured and you don’t have the cover in place, you run the risk of having to pay a large payout personally which could have a major impact on you or your business, as these type of claims can run into the hundreds of thousands..
I know the employees too well for them to make a claim!
When we mention employers liability cover to clients, sometimes clients tell us that they don’t need it as the employee is a friend or family member. Unfortunately when someone gets hurt in the work place and cannot work, they will have no option but to claim from either an insurance company or the business they are working for. So the best thing any employer can do is to make sure their employee is covered under their policy. It protects the owner, the company and the employee should an accident happen.
If you would like some additional information on employers liability cover contact the experts on (061)226722 or Info@powerinsurances.ie