Limited Companies need a range of insurance products which can be uniquely tailored to the industry and type of business you operate. Depending on the type of Limited company you have there may be various insurance conditions attached to your policy which have to be met in order to trade successfully.
A fact to be aware of with a limited company and employee liability insurance:
Even if you are a single person limited company you need employers liability insurance, do not assume as you employ no others within the business that you are not considered an employee of the business, the business is an entity in and of itself and you are considered from a legal point of view an employee of that entity.
The core focus of your insurance protection should focus on the following which cover your premises, assets and people:
Public Liability Insurance
A public liability policy covers the insured’s legal liability to compensate third parties for personal injury, loss of or damage to property. Primarily, the policy covers risks damage to property. Primarily, the policy covers risks relating to the premises and activities of the business. Unlike Employers Liability, this type of cover is not compulsory but is well advised. It is often a pre-requisite in trading with other organisations. [Read More]
Employers Liability Insurance
Employers Liability Insurance is a statutory requirement and failure to have this cover is liable to a fine, up to £2,500 per day. As an employer, you are liable for injuries to your staff where there is a breach of duty at common law or under statute. You are also required to display your certificate in a prominent position and they must also be retained for future reference. [Read More]
Professional Indemnity Insurance
Claims are increasingly made against persons or firms engaged in professional duties or the provision of such services for alleged negligence, omission or error. [Read More]