A survey by LV Broker has reported that one in 20 small businesses are not protected or don't have public liability insurance, while more than 350,000 have no employers' liability insurance and are in danger of being fined £2,500 a day.
Businesses who have employees or use labour-only subcontractors must have employers' liability insurance or face being sanctioned by the Health and Safety Executive.
According to LV's claims data, there has been an increase in EL claims against employers.
LV stated that ‘slips and trips' liability now makes up the largest proportion of claims after theft and damage caused by leaks, storms and accidental damage.
The research also revealed that 16% of office-based businesses and 10% of residential property landlords have no cover in place.
To discuss your business' insurance needs, please contact our commercial office on 01249 463206.