Businesses that refuse to purchase employers’ liability (EL) cover when they employ workers risk incurring fines from the Health and Safety Executive (HSE) of £2,500 for each day without a valid EL policy. With insurers reporting a steady increase in EL claims against employers, the need for EL cover when employing workers continues to grow.
Even if a business has no employees and does not need EL, insurance is still essential. All businesses need to consider what will happen if they do not have proper business interruption cover, property and contents cover, public liability cover and more. A lapse in insurance could endanger your business.Don’t be the 1 in 20 without cover - avoid getting caught by surprise with a hefty compensation claim.