A breach of employment law can have a huge financial and reputational impact. Even with the most careful attention to health and safety accidents still happen, and employees can feel aggrieved no matter how you try and treat them well.
Unfortunately, lawsuits against employers are increasing, and the cost of defending such a case can be very expensive, even if the employer “wins”.
Protecting your employees’ welfare and minimising costs to the business.
Employers’ Liability insurance helps in protecting your employees’ welfare and minimising costs to the business by protecting it against claims from aggrieved employees (whether full, part time or volunteers) about something that happened to them at work.
It also helps with the costs of defending or settling a legal claim, keeping any business disruption to a minimum.
Do we need Employers’ Liability insurance?
If your business employs anyone in any capacity, no matter what their tasks are or how many hours they work, it is usually a legal requirement to have employers’ liability insurance, and fines can apply if you don’t have adequate cover. That’s in addition to your need to protect your employees in the event of accidents and injury.
What does it cover?
Employers’ Liability insurance covers claims made by employees alleging discrimination, wrongful termination, harassment, injury and other such employment-related issues.
It also covers you for injury of employees due to accidents. Cover continues even after they have left the company, and will protect you from both the legal costs and any compensation you may have to pay.
Cover can be arranged for the company and subsidiaries, any employee, director or manager in a professional capacity, and even potentially the spouse or partner of an employee, director or officer.