There are often a lot of questions surrounding employers and public liability insurance. Do you need liability insurance if you are the only person working in your company? Do you need liability insurance if you have less than five employees? The truth is any employer or business owners can suffer financially as well as have their reputations damaged as a result of someone suffering a loss as a result o the company’s negligence or the carelessness of an employee.
No matter how big or how small your company is whether you have staff or no staff you can be subject to liabilities law suits and to being sued. Every business that works directly with the public will benefit from having a good insurance policy on their side.
Employers and public insurance policies are very much the same for each company with only a few stipulation changes for each company based on their specific needs. The more expensive the policy the more coverage you will receive. If you do not expect to have contact with customers or that your products will have contact with customers directly you may not need a super expensive policy, but you will still need a policy of some sort. Your company may need to spend a lot or a moderate amount of money on your liability insurance policy but that policy can easily save your corporation millions of dollars in civil and criminal law suits as a result of negligence or carelessness on the part of a representative of your company.
Employers and public insurance can easily be found to be the smartest business investment you have ever made. It takes only one person to have an accident and hurt themselves in your store or shop, or while using your product, to cost your company thousands or even millions. Having liability insurance and closely following the stipulations set forth by that policy can save your company not only a lot of money but also damage to your reputation. Having liability insurance is the responsible thing to do when you are working with customers or providing products for the direct use of a customer. If you are having any contact with customers or customers will be using your products you need to be responsible, and you need to have proper liability insurance to protect your company and your staff.
Employers and public liability insurance is required by law in many cases because the employers insurance will protect the employers from any financial hardship that can be suffered as a result of an employee injuring themselves or dying while at work in your company. Public insurance will protect the company from injuries or deaths that might occur in your company by non-employees or customers as a result of negligence or wrong doing by a member of your company. Not only is liability insurance required by law in many cases it is also the responsible thing to do when yo own a company. In order to keep you, your company, your employees and your customers safe you need insurance.
By Jack Fisher