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Very useful for new founders, although as you quite rightly point out if you pay a half-decent accountancy firm to handle your company finances they should be s

• tomgallard 15y ago
  Glad it helped- I found the need for Employer's Liability Insurance to be the biggest surprise, so wanted to flag that up to people.
  • Chris_Newton 15y ago
    It's also be worth knowing that some insurance deals aimed at small businesses bundle up several of the most useful/legally required types of insurance, including Employer's Liability. For example, my contracting company took out a policy for the Professional Indemnity cover, but it also comes with some Public Liability and sufficient Employer's Liability cover to meet statutory obligations if we take on employees. I don't know whether this works out cheaper than finding separate policies for exactly what you need, so obviously please do your homework if you're in a position of needing this type of cover.
    • pwaring 15y ago
      Often you'll buy what's called a 'commercial combined' policy, which will usually cover professional indemnity, employer's liability and product liability (if you sell things), plus extensions such as theft cover. EL is the only compulsory insurance which applies to all private sector employers, although in certain industries you will have additional requirements (e.g. conveyancers have to purchase professional indemnity insurance).