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Mandatory Insurance

Mandatory Insurance


Employers Liability Insurance – helps employers to meet the cost of compensation for injuries or disease to their employees that arise as a consequence of their employment. All businesses need employers liability insurance unless exempt under the Employers Liability (Compulsory Insurance) Act 1969. The following link will give more details on the Act itself and the exemptions: http://www.hse.gov.uk/pubns/hse40.pdf

You are required to display the certificate of Employers Liability Insurance in a prominent location within the business for employees to see. It can be displayed electronically provided all employees would know where to locate it and have access to it. There are heavy fines applied by the Health and Safety Executive if you fail to comply with the law.

Motor Vehicle Insurance – you must at least insure your legal liability for injury to others and damage to other peoples property arising from the use of vehicles on the road. This is a legal requirement and it is known as third party insurance. Most policies are either comprehensive or third party, fire and theft. Comprehensive insurance would normally cover damage to your vehicle in addition third party, fire and theft.

Professional Indemnity Insurance – protects professional businesses against their legal liability towards third parties for injury, loss or damage arising from their professional negligence or that of their employees. Certain professions must have professional indemnity insurance including architects, accountants, solicitors, surveyors, insurance brokers and financial advisors.



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