24th November 2015
As many small business owners will be looking to recruit seasonal staff for the busy Christmas period, The Co-operative Insurance is urging employers to take steps to ensure their insurance cover is valid in preparation for the festive season.
Kieran McGeehan, Head of SME Business Insurance at The Co-operative Insurance says: “While many SMEs will source temporary workers through an agency or advertise for additional members of staff, there are those who will rely on getting family and friends to offer support on an ad-hoc basis as they can be called upon at the last minute.
“However, for people who are taking this ‘just in time’ approach to taking on extra helpers it is important to remember that being an employer comes with responsibilities and whether your business is a seasonal one, or just one that needs temporarily expanding for a few weeks or months, you are not exempt from business laws and employment regulations.”
The Co-operative Insurance offers some advice for SMEs to consider in preparation for the festive period:
- If you are taking on additional employees, make sure they receive the right training for the job as it is still important to ensure they are suitable for the roles involved and they should also have a right to work in the UK.
- Busy periods can also lead to an increase in seasonal profits which can mean more cash and more stock on the premises. As many people now work from home, this may not automatically be covered on your home insurance.
- If you are transporting increased levels of money or goods about, you should check your insurance policy to make sure you have the right level of cover in place. Most business policies will cover this, but you should make sure the extent and scope of protection is right for you.
- Ensure you have employer’s liability cover for the total number of people working on your premises at any one time – this should also include subcontractors.
To give businesses that extra peace of mind this Christmas, The Co-operative Insurance offers an automatic 30% increase in cover as standard for business stock during the seasonal period.* While business insurance can cover you for numerous things, here are the main types to consider:
Employers liability – this is required by law
This insurance covers you for any claims made by your staff for injury or illness that they believe have resulted from their work or have been caused by their workplace. Policies are likely to cover all conventional employees, casual workers and seasonal staff, in addition to temporary staff.
This type of insurance provides cover for injuries to the public or damage to, or loss of, their property. This is a necessity if your business interacts with the general public. The term ‘public’ means anyone who is not classed as an employee, so it includes volunteers, activity participants, spectators and visitors.
This is similar to public liability insurance, as it provides protection for the business against compensation claims from a member of the public due to injury or damage but it varies to public liability cover because the injury or damage to a person is caused by a product that has been supplied, installed, maintained or manufactured by you. Be aware that you can be held liable for faulty products even if you are not the manufacturer, for example if your business repairs or refurbishes a product, you import it from outside the European Union or your business’s name appears on the product.
If you have a business where you are reliant on the tools of your trade then you should consider this type of cover. Most businesses would find it a struggle to carry on with no access to their place of work but if it would be difficult for you to continue if your business equipment or stock was destroyed, lost or stolen, then property insurance may be important.
Notes to editors
For media purposes only
*Standard increase applies to 3 month period from Nov – Jan, but customers do have the option to change this in favour of any 3 month period of their choosing by agreement.
The Co-operative Insurance offers a range of business insurance, from cover aimed at the self-employed to shop, salons and motor fleets. In addition to providing insurance to businesses in the leisure sector, The Co-operative Insurance can also provide bespoke Business Insurance policies, for more information visit our Business Insurance pages. The Co-operative’s commercial insurance is arranged and administered by Aviva Insurance Limited.
For further information please contact
Press & Media Relations Manager – The Co-operative Group
Tel: 0161 767 4281 / 07540 641368
About The Co-operative Group:
The Co-operative Group, one of the world’s largest consumer co-operatives, with interests across food, funerals, insurance, electrical and legal services, has a clear purpose of championing a better way of doing business for you and your communities. Owned by millions of UK consumers, The Co-operative Group operates a total of 3,750 outlets, with more than 70,000 employees and an annual turnover of approximately £10 billion.