Every business has a legal responsibility to look after the health and safety of its employees and customers. Meaning, if someone has an accident or injury, it could be argued that you, your company or someone employed by your company is at fault. You could find yourself liable to pay compensation.
The UK is experiencing an increasingly aggressive compensations culture with the ever popular ‘no win, no fee’ claims system, leading to a rise in the number of personal injury claims against small businesses.
If you are a business owner it is important that you are aware of your responsibilities and take the necessary steps to ensure that your company is protected against any personal injury compensation claims.
The law concerning liability is extremely complex, but there are three main areas of which every business owner should be aware:
Companies must consider all potential risk exposures when deciding whether liability insurance is needed, and if so, how much coverage is appropriate and cost-effective.
The best way to reduce the risk of accident and injury within a company is to identify and remove the main areas of risk. Risk assessments should be carried out to identify potential issues, enabling you to reduce the risks of injury to staff and customers. If you can show your insurance company that you have a robust risk-management procedure, it could possibly lower your insurance premiums.
If you are unsure about which type of insurance your company needs and how much cover is required, talk to your insurers. Get it wrong and the consequences could be catastrophic!
These are just a few ways that OfficeTeam can assist by providing you with all the workplace items you need to implement and follow the correct procedures, ensuring your insurance policies are protected.
HSE.gov.uk provides free advice on managing the risks within your company.
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