It is compulsory to have employer’s liability insurance in all but exceptional circumstances. The Employers’ Liability (Compulsory Insurance) Act 1969 requires employers to have at least £5 million of cover (more depending on the business activity). Most insurance companies provide £10 million of employers’ liability as standard.
Employer’s liability insurance is compulsory because employers are responsible for the health and safety of their employees whilst at work. If an accident occurs and an employee is injured or made ill in consequence of work related activities, they will have a claim for compensation against their employer.
Work experience students and voluntary or unpaid ‘helpers’ are classed as employees and if you retain them, you must have the relevant employer’s liability insurance.
Your insurer will pay the cost of compensation, comprising damages and costs, less any excess you have agreed. Even where a company ceases trading or goes into liquidation, the insurer is still liable for payment for such claims.
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