BUSINESS LIABILITY INSURANCE FROM UK & IRELAND INSURANCE

We’re living in increasingly litigious times. Your business faces unpredictable threats and risks on a daily basis. A liability insurance claim against your business could be huge and could lead to damages of millions of pounds being awarded against you. For mosts businesses this could lead to financial ruin but is easily avoided by arranging the appropriate business liability insurance cover.

EMPLOYERS LIABILITY INSURANCE (EL)

If you employ anyone outside your immediate family, it’s a legal requirement to purchase Employers Liability Insurance for a statutory minimum of £5 million .

Employers Liability Insurance protects you and your business against any liability arising from injury or illness sustained by employees whilst they’re working for you. Employers Liability Insurance also enables employees injured , due to an employer's negligence, to seek compensation, even if the business goes into liquidation or receivership.

Failure to arrange Employers Liability Insurance could lead to you being fined up to £2,500 for each day that you don’t insurance by the Health & Safety Executive (HSE).

Find out more about Employers Liability Insurance (EL) - click here

PUBLIC LIABILITY INSURANCE (PL)

Public Liability Insurance covers your legal liability to pay damages to members of the public for death, bodily injury or damage to their property, which occurs as a result of business activities. Cover also extends to products supplied by you in your business.

Public Liability Insurance is not a legal requirement but it is good business practice. The majority of local authorities and businesses will expect you to have business insurance to cover you up to a minimum of £2m for works to be undertaken at their premises or on their behalf. Without suitable Public Liability Insurance you won’t even be able to compete for the business.

Further information about Public Liability Insurance - click here

DIRECTORS & OFFICERS LIABILITY INSURANCE (D&O)

Legally, the directors and/or officers of a company and the company itself are separate entities. Both may be defendants, separately or jointly, in any legal action or prosecution. Directors & Officers duties are set out in a combination of case law, statutes and regulations. As a result, directors and officers can be held responsible for a range of issues including:

Fraud
Negligence
Health and safety
Data protection
Maintaining satisfactory accounts

If a director or officer of a company is found to have inadvertently acted outside their terms of reference and this gives rise to a claim, any compensation and legal fees will be covered by directors and officers liability insurance.

Click here for more information about Directors & Officers Liability Insurance

PROFESSIONAL INDEMNITY INSURANCE (PI)

Professional Indemnity Insurance provides protection against any action by clients who believe they received bad, damaging or negligent services. Professional Indemnity Insurance also covers any legal costs that may arise.

Anyone who supplies advice or services such as consultancy, should consider Professional Indemnity Insurance. Historically, Professional Indemnity Insurance has been the domain of businesses like architects, solicitors, surveyors, accountants and financial advisers. However, in recent year’s new professions such as e-commerce, programmers and internet service providers have found that Professional Indemnity Insurance is an essential part any business risk management strategy.

Click here for more information about Professional Indemnity Insurance (PI)

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BUSINESS INSURANCE PRODUCTS FROM UK & IRELAND INSURANCE

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