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Great leaders take care of their employees, make sure you cover them with the right Employer’s liability insurance from constructaquote.com.
As with all valuable assets, employees therefore require the protection of an appropriate level of insurance. In this case, that cover is called employers’ liability insurance.
The term helps to explain that it is the employer’s duty to provide employer’s liability insurance if an employee is injured at work or contracts an illness or other medical condition as a result of his or her employment.
The liability arises because, in addition to certain statutory responsibilities for the health and safety of employees, the employer also has a general duty of care for their well-being whilst at work. If the employer is negligent in this responsibility, a case may be made for substantial compensation to be made.
With all but a few exceptions, any business owner employing others in the running of the business is required by law to hold a minimum of £5 million employers’ liability insurance to meet any such claims.
Failure to have such cover could see you face fines of up to £2,500 per day for each day your employees are not protected. And, if you do not have employers’ liability cover and one of your employees is injured while carrying out their job, you face legal action and, potentially, a large claim for compensation, that you will need to fund from your business. Is it worth it?