In these often fraught and certainly challenging trading conditions, there cannot be a good reason to not take out the most comprehensive range of insurance policies available. There are some of course that are a legal necessity and the others would be considered enormously sensible. Employers’ liability insurance is required when a company stops being that one man domestic operation and starts hiring paid staff. Under the employers’ liability act of 1969, it is legally required if you have anyone working for you and covers claims made by an employee if they are accidentally injured or become ill because of working for your company. It also covers legal fees and other costs that incur because of such a claim. To be found to be without such insurance cover could lead to a fine by the tax authorities of a substantial fee for every day you are uninsured.
The next issue within this heading is the status of ’employee’. This does not only mean someone who works directly for you on a paid basis, full or part time. It covers quite a wide selection of employee types which include someone under contract of service or an apprenticeship with your. This is then quantified by whether they are employed by you or on your behaf on a labour only basis; whether they are self-employed; whether hired by you or borrowed by you from another employer; whether a voluntary helper or someone working for you as a work experience candidate or on a training scheme.
An employee or anyone working for you in any of the above capacities will also need to have motor insurance if they ae required to use a company owned vehicle to carry out that work for your company, that will require a separate policy for the motor vehicle side of things.