About Employers Liability Insurance
Employers Liability Insurance provides cover if any of your employees suffer physical injury or death, and it is proven that as an employer you acted negligently and subsequently could have prevented their loss. If they then decide to pursue you for compensation the insurer will pay the cost of the claim.
Consider the following examples where Employers Liability Insurance will provide cover:
- You run a carpentry company. One of your employees loses a finger while using a chop saw and decides to claim against you for his injury
- You are a scaffolding contractor and are erecting scaffolding around an apartment block. While erecting the scaffolding one of your employees falls and suffers severe bodily injury. He decides to claim against your firm.
Please note that Public & Employers Liability is offered ‘hand in hand’. When arranging liability insurance you will need to arrange both Public Liability & Employers Liability Insurance together [Also known as Combined Liability Insurance] as Employers Liability Insurance is not available on a ‘Stand Alone’ basis.
Employers Liability – Frequently Asked Questions
What is the difference between public liability and employers’ liability insurance?
Employers Liability Insurance covers you against claims from your employees while Public liability insurance covers your business against claims from third parties.
In summary, Employers Liability Insurance is concerned with your employees’ welfare and Public Liability Insurance is concerned with covering you from claims in respect of third parties. Click here if you would like to learn more about public liability insurance.
What is Employers Liability Insurance?
In the event that an employee is physically injured or dies, they or their relatives will be able to sue your business for compensation. Employers Liability Insurance will cover you for the compensation that will have to be paid out along with associated legal costs.
Is Employers Liability Insurance required by law?
You do not legally need Employers Liability Insurance under Irish Law although it is a compulsory insurance in Northern Ireland & the UK.
For customers based or operating in Northern Ireland & the UK you can view the relevant legislation here
Do I need Employers Liability Insurance?
Any company that has employees needs employers liability insurance.
How Do Claims Arise?
A claim can arise in a number of different ways however usually it is the result of a workplace accident. Often employees suffer relatively minor injuries and are encouraged to sue their employers by ‘no win no fee’ lawyers.
What Is The Minimum Amount Of Employers Liability Insurance That I Need?
The minimum & standard level available in Ireland is €13,000,000. It is possible to arrange up to €50,000,000 cover however €13,000,000 is adequate for the vast majority of businesses.
[For Northern Ireland & UK companies the standard level of Employers Liability Insurance cover is £10,000,000]
Can I buy Employers Liability insurance on its own?
No, Employers Liability insurance is arranged hand in hand with Public Liability Insurance. This is commonly known as Combined Liability Insurance.
How fast can I get quotation for Employers Liability Insurance?
The time it takes to get a quotation for employers liability insurance depends on the size and complexity of your business. If you are a small tradesman with fewer than five employee’s quotations can typically be given instantly. If your business is classed as high risk (i.e. asbestos removers, civil engineers etc) quotations can take longer although we usually achieve a 24 hour turnaround.
Is Employers liability insurance expensive?
Employers liability insurance rates have reduced significantly over the last five years and are nowhere near the ridiculous levels reached in 2001/2002. Premiums vary depending on your business activities, the level of cover you require, your turnover and the number of employees your business has. At Keystone Insurance we deal with over 15 construction insurers to ensure that we provide our customers with the most comprehensive cover available at the best possible price.