Minggu, 22 April 2012

Do You Need Combined Public and Employer Liability Insurance?

Different types of business insurance policies are available to protect your business from dealing with financial disasters. Speaking of business insurance, one of the most popular is public liability insurance. With the help of this particular cover, you can conduct your business with peace. It is so because if something goes wrong, you know you have this insurance policy to save you from financial loses. Even if you have to deal with a lawsuit, your policy will cover all legal fees and any compensation awarded by the court.
However, some businesses don't deal with the public. For instance, a manufacturing company wouldn't be offering any direct services to the public. In this case, they don't really need public liability insurance, but what they do need is an employer liability insurance policy. It is so because this policy is going to protect your business in case an employee gets hurt while being on job. They can take you to the court and ask you to compensate for their injuries.
Now, here comes the tricky part. Imagine you're associated with a get their business out of this mess. If you have employer liability insurance, you won't be able to offer any compensation to your customers. And in case of public liability insurance, your employee will give you a hard time.
The ideal solution is to opt for combined public and employers liability insurance. Depending upon the type of your business, you may find it extremely important to have one such policy in place. If your company offers services to the general public and at the same time employs more than one person to accomplish a task, you really cannot do without a combined public and employer's liability insurance policy.
It is worth mentioning that employers liability insurance is compulsory, but you are free to decide whether you want public liability insurance or not. To provide your business with enough protection and to show that you understand what your legal duty is towards the public, you will be better off taking out a combination of both policies. So, consider the type of your business and the way you have been offering your services to pick the right policy. business that has several employees and deals with the general public as well. What do you think is the right type of insurance policy in this case? Consider being in another situation. You've been asked to install wiring in a house, but your employees have installed faulty wiring that could result in a fire. And while working, one of your employees has cut through an electrical cable and landed on to the hospital bed. You may not be able to relate to this situation now, but getting in similar situations is quite common for many businesses. And when this happens, they know nothing about the policy that is going to