Barclay Brown
Business Insurance
employers liability insurance
Employers Liability Insurance: What is it? | |
Employers Liability Insurance is required by law once one employee is taken on. The prescribed legal minimum is currently [2001] £5m of cover against bodily injury, illness or disease sustained in the course of employment. | The subsequent huge increase in litigation, the emergence of 'ambulance chasers' encouraging the 'someone must pay' culture, record-breaking court awards and a whole raft of new liabilities undreamed of when the legislation was drafted, have all added to industry losses. |
Employers Liability insurance became a legal requirement in 1972 as a direct result of the 1969 Employers Liability Act. | As a result, employers liability cover has become increasingly expensive and, in some cases, impossible to obtain. |
What else should I know? | |
As a result of increasing payouts for high-risk sectors many insurers have stopped offering employers liability cover to entire trade sectors, tarring many companies with the same brush. | Good risk management is the key to continued insurance and low premiums. No claims discounts of more than 10% are available. |
Companies that are unable to obtain employers liability face two stark options. Either carry on trading illegally without insurance or close down. | Companies need to do more to reduce the risks inherent in their businesses by ensuring they have health & safety plans, hazard and risk management systems and a claims history to identify significant patterns. |
Contact | |
 Call 0800 037 9395 for more information about our products
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