What are legal liabilities and how can I be sure that the policy limits will provide adequate cover?
Employer’s Liability Employers are required by law to have insurance covering their liability should an employee suffer death or injury whilst working for the trade or business. A labour only sub-contractor is also likely to be considered an employee, as are any working directors of limited companies. The Employer’s Liability section provides up to £10 million of cover for employers and fully complies with statutory requirements. Public Liability Public Liability insurance is not compulsory but, with large sums for damages now routinely awarded in court for personal injury coupled with escalating legal costs, one claim could put you out of business, so cover is essential for trading protection. Local authorities and other principals usually require contractors to hold such cover without which contracts will not be awarded. The cover will protect the insured if in the course of the trade or business, the insured, any partner or director or employee accidentally injures a third party or
Related Questions
- What will happen if there are more than 1 margin open positions and the limits are not adequate to cover the Additional Margin requirement for all the positions?
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