Employment Practices Liability Insurance
Directors and Senior Managers can face claims from a variety of parties, including: employees, clients and governing bodies. A Director’s personal liability is unlimited.
Any company that has faced an Employment Tribunal will know that the costs of defending their position are high. Unfortunately, every company that has employees is at risk of being taken to a Tribunal. In the current economic climate this risk is further exacerbated. Redundancies often trigger disgruntled ex-employees to claim unfair dismissal. Even where an employer successfully defends an Employment Tribunal claim, the legal costs are likely to run into thousands of pounds.
Employment Practices Liability Insurance can be arranged as a stand-alone policy, or as an extension to an Management Practices Liability Insurance policy, to protect against these risks.
Please contact us on 01384 442 165 to discuss your requirements, or click the Quote Request button below.
Please complete the form below for an Employment Practices Liability Insurance quotation
Please carefully review the Statement of Fact below and advise if you do not agree with ALL of the statements:
- You have you been trading for at least 12 months and made a profit (that is, a net profit after tax) in the last 12 months
- You have not made any redundancies in the last 6 months and do not plan to make any redundancies in the next 12 months
- There have been no: merger; TUPE arrangements; change of ownership; acquisitions; and/or disposals of any company(ies) in the last 12 months and none are planned in the next 12 months
- You are not regulated by the Financial Conduct Authority
- You do not have assets in the United States of America (USA) and your turnover or income does not include any turnover or income from the USA
- Your latest report and accounts to Companies House were submitted within the required statutory time frame, with an unqualified auditor’s report (clean report)
- You reported a positive net worth in your last completed financial year and will, in the forthcoming 12 months be able to pay debts as they fall due
- In the last 5 years, there have been no claims or investigations made against you, or against any directors, trustees, officers or employees, that this policy might have covered if it had been in force – force – including, but not limited to, Shareholder Disputes, HSE Fee For Intervention etc
- After full enquiry, neither you or any of your directors, trustees, officers or employees are aware of any fact or circumstance that may lead to a claim under the proposed policy
- In respect of Fidelity cover – if cover is required: • Other than directors, all duties are segregated so that dual controls exist on signing cheques above £2,500 and issuing instructions for disbursement of assets or funds
- In respect of Employment Practices Liability – if cover is required: • You use external Human Resources consultants or legal advisers to review all employment terminations • You communicate written employment and grievance policies to all new and existing employees • There have been no Employment Tribunals in the past 5 years
- All Material Facts have been disclosed
Please contact us If there is any aspect of your insurance arrangements you would like to discuss.
Call Us on 01384 442 165
Office Hours (Monday – Friday, 9am-5pm)
We will gladly discuss and review your insurance requirements, and answer any questions you may have.
