What is Employers’ Liability Insurance?
Employers’ liability insurance protects businesses that employ people – whether full or part time – should an employee take legal action against their employer. It’s a legal requirement for businesses that employ people to have this business insurance policy in place.
Do Contractors Need Employers’ Liability Insurance?
It depends. As explained, if you have anyone working for the company (other than your spouse), then you must by law hold this kind of insurance. However, given many contractors are one person companies, it may not be an immediate requirement. That said, check with your client and or agency, given some businesses prefer that businesses they engage have this policy in place.
Should you expand your business and bring on employees (whether permanent or temporary) it is an insurance that you will need to purchase. Without a minimum of £5m worth of cover you could be fined £2,500 for every day you’re uninsured.
What Does Employers’ Liability Cover?
This business insurance protects you from a number of claims made by employees, but generally speaking it is designed to cover you against injury or illness suffered by employees during employment or ones that have arisen as a result of their employment – from slips, trips and falls to serious injury or illness.
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