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INSURANCE REQUIREMENTS
Whilst Business Bridge makes every effort to ensure that the information
contained herein is accurate it cannot be held responsible for any omissions or
errors or the content of any external websites linked to this site. Companies
should always check their insurance obligations with a professional insurance
agency.
- Sole traders are not required by law to possess Public
Liability insurance. They are recommended to do so especially in cases where clients
are visiting them on their premises. When sole traders have Public Liability insurance,
this covers them for any personal injury, accidental damage etc. which may take
place on the business premises.
- Public Liability or Employers Liability insurance does not cover
the business against cases made against the company for defective products or
services. To cover against such claims members of the organisation require professional
indemnity cover, which is quite expensive. This is the sort of insurance most
consultants invest in.
- Employers Liability insurance is required when more than one
person is employed. It covers employees against personal injury, accidental damage
etc.
- If an employee makes an error resulting in a case being
made against the company, this should be dealt at company level. The employee
is not liable for such professional errors. The company's provision for professional
indemnity cover should apply here.
'Clearly business' has a good Internet page outlining
company insurance requirements. It can be viewed by clicking
here.
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