Commercial Insurance

Employer’s Liability Insurance

Employer’s liability insurance is mandatory in the UK for essentially all companies with staff. It provides protection if an employee suffers an injury or illness due to negligence on behalf of the employer.

Policies must provide minimum coverage of £5 million and cover costs such as:

• Medical expenses from the work-related injury/illness
• Rehabilitation services
• Lost income from time off work
• Legal fees if the employee sues the company

Even employers careful about workplace safety need this coverage given the risks of employee accidents or unprevented occupational hazards.

Public Liability Insurance

Public liability insurance covers legal costs, settlements and damages if a third party is injured or their property damaged as a result of company operations. It protects against claims from customers, vendors, or other members of the public.

Retail stores, restaurants, manufacturers, contractors, and professional service firms all need public liability to manage risks like:

• Customer slips and falls on premises
• Injury from defective products
• Damage to vendor or supplier property
• Harm resulting from poor advice or professional errors

Typical policies provide £1-5 million in coverage, which can be increased based on specific risk profiles.

Professional Indemnity Insurance

For companies and contractors providing professional services like consulting, accounting, project management and technology services, professional indemnity coverage is essential. This insures against claims made by clients resulting from poor or negligent work.

Common risks include:

• Breach of contract leading to client losses
• Missed project deadlines or cost overruns
• Mistakes resulting in low quality deliverables
• Failure to detect issues or risks
• Breaches of confidentiality or privacy

Beyond financial losses from claims, this insurance covers defense costs against allegations and legal liabilities. Policies from £250,000 up to £10 million are available.