Taking on your first employee is a huge moment for your business. Find out what support is available and what insurance you’re required to have by law as you reach the huge milestone of hiring staff and growing your business.
Small businesses are built on the actions of great founders and brilliant employees. But, if those brilliant people have an accident at work or become ill, your business could be at risk. If that happens, employers’ liability insurance has your back. For companies in the UK, employers’ liability insurance is a must. And that’s not just because it makes sense, it’s a legal obligation.
Founders and key contributors are the lifeblood of small businesses. They’re crucial to the growth of every company, but what happens if they can’t work? Personal accident insurance covers your business if you or a key member of staff are out of action. You’ll receive support and weekly payments during the absence period. If the accident is more serious and the injury results in permanent disability or even death, your business would receive a lump sum payment if it has personal accident insurance.
When you’re running a small business, your time is precious. If you’re taking on staff to concentrate on growing your business, you can’t let your time be wasted on paperwork. One way of cutting down the paperwork that comes with hiring staff is to check out the BusinessHR product from Hiscox. The BusinessHR service provides legal documents and employment advice to small businesses. Its aim is to make sure the only HR question you need to worry about is, are they right for my business?
BusinessHR can only be purchased with one of Hiscox other business insurance products for the special rate of £5 a month.
To save money on your business insurance, click here.