25-03-2008
IRM highlights importance of employer liability insurance
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A representative from the Institute of Risk Management (IRM) has re-iterated how much employers liability insurance is an essential product for small to medium-sized enterprises (SMEs).
Carolyn Williams, development manager at the IRM, believes that apart from the legal issues, not having employers liability insurance is "dangerous", even for those working on their own.
Moreover, given that problems can arise even with insurance in place, Ms Williams believes that SMEs should do what they can to ensure that accidents to not occur. "Even if they are a one man band, they need to consider if they are using volunteers or contractors who could conceivably be in an employed situation even though they might not think they are," said Ms Williams.
Ms Williams' comments follow the publication of research showing that, out of every three SMEs, close to two are not covered by insurance for employer liability. Established in 1986, the IRM offers education and training in the field of risk management.
Employer's liability cover is a legal requirement for any business that employs one or more people in any capacity, whether part-time, contracting or full-time.