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What is employers liability insurance?
Employers liability protects the policyholder against claims made against them by employees in respect of their legal responsibility for death, injury or disease sustained by an employee during the course of their employment. The cover includes both the amount of any award made to an employee and the costs of mounting a legal defence to any claim, whether or not the insured is found liable.
How much employers liability cover do I need?
The legal requirement for employers liability insurance in the United Kingdom is a minimum of £5M although in practice the standard limit under most policies is £10M, a limit that may be increased if desired.
How much does employers liability insurance cost?
The cost of cover is very much dependent upon the occupation and activities undertaken by the employee, along with the trade and business of the employer. The total cost of the policy will be based upon the number of employees, their activities and the claims and health and safety record of the employer. In the majority of cases these factors are greatly simplifies in the quotation process, but as the number of employees increases insurers will require more detailed information in order to provide a competitive quote that reflects the risks present.
The Employers Liability (Compulsory Insurance) Act 1969
In the United Kingdom, employers liability insurance is one of a few compulsory classes of insurance. it is a legal requirement that all employers hold employers liability insurance to protect them against claims in respect of their legal liability for personal injury or illness to employees caused during the course of their employment and ex-employees where illness or personal injury can be connected to previous employment with the employer.
The Employers’ Liability (Compulsory Insurance) Act 1969, and subsequent modifications, requires all employers to hold a current policy with a minimum limit of indemnity of £5,000,000, although in practice insurers tend to issue policies with a minimum limit of £10,000,000.
There are very few exceptions to the requirement laid down in the act and these include;
- Certain government departments
- Businesses that are not Limited companies where the only employees are close family members
- Limited companies where the sole employee is also at least a 50% shareholder in the business.
- Where there is no legal requirement to insure, this does not prevent the prudent businessman from carrying the insurance and this may certainly be advisable for many small businesses with close family employees.
The market for employers liability insurance is unusual in the United kingdom insofar as it is extremely rare to find insurers that will offer an Employers Liability Insurance on it’s own. It is usual to buy the cover alongside a public liability insurance policy or as part of a broader package of business insurance.
Do I need employers liability insurance for domestic staff?
Most household policies will include this aspect of cover in respect of domestic staff.
Blackfriars has a proud tradition in the arrangement of employers liability insurance and provides instant access to a highly competitive range of products providing employers liability cover.