Liability Insurance provides you with protection against the risk of claims and lawsuits. There are two main classes of liability insurance – Employers’ Liability Insurance and Public Liability Insurance. If you are a business owner, it is strongly recommended that you take out an appropriate liability insurance policy in order to protect yourself, your business and your employees.
Employers’ Liability Insurance
Employer’s Liability Insurance is a legal requirement for anyone who employs staff. It provides you with legal protection if any of your employees are injured during the course of his or her work. So even if you employ just one other person, you are required by law to take out Employers’ Liability Insurance.
Public Liability Insurance
Public Liability Insurance provides protection in the eventuality that a member of the public suffers an injury, financial loss or damage to their property as a result of your business activities. While Public Liability Insurance is not compulsory, it is strongly recommended and very often stipulated in a franchise agreement if you contract into a larger company. For example, if you drive a taxi or a minibus for education purposes, your local council will almost certainly require you to take out Public Liability Insurance. Alternatively, if you are a shop or restaurant owner, Public Liability Insurance provides your business with a vital layer of protection if, for instance, a member of the public were to slip or fall while on your premises.
For more information visit our Liability Insurance page.