There are many types of insurance that a company can peruse and purchase if they wish. There are many however which need to be in place before the actual opening or start of operations. Public liability is essential to cover claims of injury to the public or damage to their property as a result of the activities of your company. Employer’s liability insurance covers claims for compensation for employees falling ill or being injured by anything at your premises. In many places, this Employer’s liability cover is essential and a legal requirement. Employee related issues can be thorny and anyone who has been taken to the Employment Trbunals will know just how essential it is to have the right kind of policy to cover the vast expenses that come with defending any claims agains the company and/or the owners. There are some more unusual risks that can be covered such as environmental liability; product liability; trade credit insurance. If your company runs vehicles then you will definitely need specific commercial motor insurance – they cannot be insured on the domestic motor policy if the vehicles are used for business purposes; in the event of any accident or incident, if it is discovered that the vehicles have been used for business at the time of the incident, the policy is very likely going to be considered null and void and someone is going to be looking at a very seriously high cost for repairs or compensation to the other parties. Always ensure the right insurance is in place when running a business operation.
Ensuring Insurance Policies Are In Place And Up To Date
