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Employers Liability Insurance vs Personal Accident Insurance

Employers Liability Insurance vs Personal Accident Insurance

By Bee Ingram

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Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

•

6 mins read

Table of contents

Table of contents

Introduction
Employers Liability vs Personal Accident
Get Business Insurance from Protectivity
Disclaimer

Table of contents

Introduction
Employers Liability vs Personal Accident
Get Business Insurance from Protectivity
Disclaimer

Contributors

Image

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creatin...

View profile
Bee Ingram Image

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

As a business owner, having insurance in place can give you the peace of mind that should the unexpected happen, you’ll have the support there to put wrong to right. When searching for business insurance, you may have come across the terms employers’ liability insurance and personal accident insurance. But what do these terms mean, and what is the difference between them?

Here, we’ll compare employers liability insurance vs personal accident insurance, so you can determine which type of insurance is right for your business.

 

What does employers’ liability insurance cover?

As soon as you become an employer, you’ll need to get employers liability insurance. In fact, it’s a legal requirement for most businesses in the UK to have (unless you operate alone or only employ family members, for example). If you don’t, you can be fined £2,500 every day you aren’t properly insured. Your policy must come from an authorised insurer and cover you for at least £5 million.

But what does employers’ liability insurance cover you for? It’s there to protect you if your employee claims compensation for an illness or injury they claim was caused by their work. Let’s say a worker was badly injured by tripping over a box left on the floor in the warehouse. Or an employee was electrocuted by faulty electrical equipment in the office. They could claim compensation against you for this happening, and the court could then order you to pay compensation for the injury, costs or other damages – which as you can expect, can be very expensive. That’s where employers’ liability insurance comes in – to cover the compensation payment and any legal costs if an employee claims compensation for a work-related injury or illness.

Like all types of insurance, employers’ liability insurance is there to protect you against the unexpected. No matter how careful you are at work, injuries do happen. If you don’t have employers’ liability insurance, it could significantly impact your business’ finances if you face a compensation claim.

 

What does personal accident insurance cover?

As the name suggests, personal accident insurance covers you if you suffer a serious injury or death following an accident. It’s there to protect you and your family against loss of income should you be unable to work, to help cover the cost of bills and other living expenses. It’s a type of personal insurance, similar to life insurance and income protection cover. With this in mind, personal accident insurance may be a type of cover you or your employee chooses to take out, to protect you/them financially against the unexpected.

Often, personal accident cover is included in life insurance and car insurance policies – so it may be worth you checking if you’re already covered before you take out another separate policy.

Most personal accident insurance policies will cover you for:

  • An accident or injury that happens at work
  • An injury caused by someone being violent towards you
  • Road traffic accidents
  • Permanent disability caused by an accident
  • The loss of your body parts or the loss of the ability to use them fully
  • Injuries caused by falls, slips and spillages

 

Pros and cons of employers’ liability insurance

When exploring your insurance options as a business owner, it’s important you know exactly what you’re covered for. Here, we’ll dive into the potential pros and cons of employers’ liability insurance:

Pros

  • Provides legal and financial protection should your employee or ex-employee claim compensation against you for an injury that happened at work
  • Helps cover the costs of employee injuries or illnesses
  • Without it, you could face a daily fine – so it’s a good idea to take out the insurance as soon as possible

Cons

  • Premiums can be expensive – especially for those working in hazardous environments that are higher-risk
  • Like many types of insurance, the claims process can be complex and time-consuming
  • For independent contractors or those who are self-employed, coverage can be limited

While there are potential cons to Employers Liability Insurance, it is a legal requirement to have so it’s important you have it in place.

 

Pros and cons of personal accident insurance

Personal accident insurance can offer you the peace of mind that should you suffer an injury or accident, you’ll be supported. Here are some potential advantages and disadvantages of personal accident insurance for you to consider:

Pros

  • Provides financial protection should you suffer an accidental injury, disability or death
  • Can offer you peace of mind if you work in a high-risk job
  • If you’re no longer able to work due to injury, personal accident insurance can provide a lump-sum payment or ongoing income to support you and your dependents

Cons

  • You won’t be covered for chronic conditions, illnesses, viruses or diseases as these aren’t caused by an accident
  • You won’t be covered for conditions that develop over time and aren’t caused by a single accident, such as gradual hearing loss
  • Premiums can be expensive, particularly if you work in a high-risk environment or participate in high-risk activities

 

Which insurance is right for your business?

Which type of insurance is right for your business will depend on the level of risk for you and your employees, and legal requirements too.

As a business owner, you’ll need to ensure you have employers’ liability insurance in place as soon as you become an employer. It’s a legal requirement for most businesses in the UK who have employees, to protect you against the cost of compensation claims should an employee have an injury or work-related illness. Without it, you could face a fine of £2,500 for every day you aren’t insured. Certain businesses are exempt from needing employers’ liability insurance, such as those with no employees or family businesses who only employ family members.

As for personal accident insurance, it’s down to your employee if they choose to take out a policy. It’s designed to give your employees peace of mind – so should they suffer an accidental injury, disability or death – they’ll be financially protected. This also means if they were to die due to an accident, their family will be given a payout if they make a claim.

So, which type of insurance is right for your business depends on the nature of your business. Employers’ liability insurance is a legal requirement for most UK businesses. Whereas, personal accident insurance is there to protect your employees should the unexpected happen – particularly if they work in high-risk conditions.

 

Speak to a professional

As a business owner, having the right insurance can give you reassurance that should something go wrong, you and your employees will be taken care of. Get a quote for small business insurance with Protectivity today, for the peace of mind you deserve.

 

 

*Disclaimer – This blog has been created as general information and should not be taken as advice. Make sure you have the correct level of insurance for your requirements and always review policy documentation. Information is factually accurate at the time of publishing but may have become out of date. 

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Bee Ingram Image

Bee Ingram

Bee Ingram Image

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

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Best sports business books

Best sports business books

By Bee Ingram

Bee Ingram Image

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

•

5 mins read

Table of contents

Table of contents

Introduction
Best sports business books
Get Sports Business Insurance from Protectivity
Disclaimer

Table of contents

Introduction
Best sports business books
Get Sports Business Insurance from Protectivity
Disclaimer

Contributors

Image

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creatin...

View profile
Bee Ingram Image

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

The world of sport has become big business in recent decades, whether it’s the boom in health and fitness interest fuelling gyms and lifestyle brands, or the corporate sponsorship, events and money involved at professional level. But throughout the sports industry, there are people who have succeeded through talent, ability and shrewd decision-making, and all of them have stories to tell.

That’s why we recommend reading some of the best sports business books around, so that you can learn from the experiences of the people who have achieved their goals. In this guide, we’ve picked out five of our favourites that should be next on your bookshelf or reading app.

 

Our picks of the best sports business books

There are so many specialisms within sports business that it can be difficult to know which books are right for you. The five that we’ve picked out here are those that can either educate or inspire you in general terms, and are most likely to deliver insights that you can apply to your own operation:

Moneyball: The Art of Winning an Unfair Game

This is perhaps the best-known sports business book ever written, and while you might think that it’s too American or too statistics-focused, there’s plenty to learn from it. Michael Lewis’s biography of Billy Beane, manager of the Oakland Athletics baseball team, explores how Beane used data and analytics well ahead of his time to gain the edge on his competitors. Beane was able to build a successful team on a limited budget, and set the example of how sports business owners can make informed, data-driven decisions.

Show Me The Money!

The title of this book suggests it’s all going to be about Jerry Maguire, but instead it’s essential reading for anyone focused on sports marketing. It’s written by Esteve Calzada, the former chief marketing officer of FC Barcelona, and uses the global growth of football as an example of what can be achieved if marketing is done right. He explores all the various ways that businesses in all sports can monetise themselves, across sponsorships, broadcasting, image rights, merchandising and much more.

Goal: The Ball Doesn’t Go In By Chance

Sticking with FC Barcelona, its former general manager Ferran Soriano wrote this book in 2011, before he became CEO of Manchester City. He draws on the experiences of football managers and how they have to approach decision-making and strategy to succeed under pressure. The book is full of both anecdotes and detailed research, which shed light on what it takes to manage people and help them maximise their potential.

Athletes Are Brands Too

While the athletes at the top of their games are earning millions from image rights and endorsements, for those at lower levels it can help them fund their sporting endeavours or even just pay the bills. Jeremy Darlow explores how every type of athlete can maximise their personal brand in this book, especially in the age of social media where they can connect to fans, sponsors and media like never before.

Leading

A book by someone whose leadership has led to unprecedented greatness will always inspire – and there are few people who fit this bill better than Sir Alex Ferguson. The Manchester United legend wrote Leading in 2016, three years after he finally retired from the manager’s role at Old Trafford. In turn, he covers several topics that he feels are important to managerial and leadership success, from discipline and motivation through to data analysis and dealing with failure. It’s a fascinating and detailed read for all sports enthusiasts, whether you support Man Utd or not.

 

Get sports business insurance with Protectivity

Sports business is a very broad industry, and we hope that some of the best sports business books listed above can give you useful advice and inspiration for your enterprise. But whatever the nature of your business, one thing you must never overlook is the value of having good-quality insurance cover in place.

Protectivity provides comprehensive cover for every kind of sports businesses and has been doing so for more than a quarter of a century. For businesses big and small, we can cover you for Personal Accident, Professional Indemnity, Equipment Cover and Employer’s Liability, so that you can achieve your goals with financial certainty and confidence. Take a closer look at all our sports business insurance options.

Get Sports Business Insurance from Protectivity

 

Get sports business insurance from Protectivity

 

*Disclaimer – This blog has been created as general information and should not be taken as advice. Make sure you have the correct level of insurance for your requirements and always review policy documentation. Information is factually accurate at the time of publishing but may have become out of date. 

Last updated by

Bee Ingram Image

Bee Ingram

Bee Ingram Image

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

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How to get into Event Management?

How to get into Event Management?

By Bee Ingram

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Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

•

6 mins read

Table of contents

Table of contents

Introduction
Getting into Event Management
Get Event Insurance from Protectivity
Disclaimer

Table of contents

Introduction
Getting into Event Management
Get Event Insurance from Protectivity
Disclaimer

Contributors

Image

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creatin...

View profile
Bee Ingram Image

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

Event management is a popular career choice for people from many walks of life, and it’s easy to see why. The satisfaction of pulling off a complex event and bringing many different elements together for success can be immense, and the best event managers around are highly sought after with high earning potential.

However, if you’re new to the events industry, then it can be difficult to know exactly where to start and how to turn aspiration into reality. To help, we’ve created this guide that covers all the basics of how to get into event management, so that you can stay on the right track as you work towards your goal.

The key steps on how to get into events management

The following six steps are intended as a general guide on how to get into events management as a whole. If you’re looking at specialising in a particular type of event or industry, then there may well be other considerations to take into account. But for most areas of event management, these tips will give you a solid foundation to start from.

Get qualifications and credentials

One of the most common questions people ask when exploring a career in event management is ‘do I need a degree?’. The simplest answer to this question is ‘not necessarily, but it definitely helps’. Businesses looking at hiring event managers will certainly be looking for evidence of degree-level qualifications when assessing CVs. So, studying for a BA in Event Management, International Event Management or Hotel And Event Management will put you in good stead. If you’re unable to commit the time and money needed to get a degree, then there are diploma qualifications and programmes that can give you good-quality certification, instead.

Volunteer for experience

Alongside qualifications, hiring businesses will also be looking for relevant experience of managing events. Of course, that can be a chicken-and-egg situation: how can you get experience of working in event management without getting a job in the first place? The best solution to this is to volunteer at events or to apply for event assistant jobs. They can not only give you real-world experience that can help you expand your skills and knowledge, but it also gives you extra selling points that you can put on your CV. What’s more, showing motivation to volunteer and be proactive will look good to prospective employers.

Develop your contact network

As is the case in most walks of life, having a large, healthy book of contacts is critical. This is especially the case in event management, where work often comes through word of mouth and recommendations. There are three ways to build up your network, and the first is to build a strong presence on LinkedIn: following businesses and people you’d like to work with in the future, and posting on the platform regularly, can help you get noticed in the future.

The second way is to attend trade shows and other relevant networking events, so that you can meet people face-to-face, talk about your and their experiences and become a recognised face in the industry. And finally, you should try and join a recognised event planning association or professional body, many of which run their own networking get-togethers.

Explore your career options

If you’re looking for event management jobs, then it’s important to keep an open mind. You may not be able to find or secure your ideal vacancy at the first attempt, so building up experience with a job in a different area or specialism can at least give you a first foothold in the industry. Make sure you conduct extensive research as to the kinds of jobs and salary offerings that are out there: this can help you craft your CV to suit each vacancy and set realistic earning expectations.

Start your own business

Alternatively, if you want to branch out on your own, you could consider setting up your own event management business. This could be a full-scale operation that provides turnkey packages to businesses and organisations, where you employ a number of other people to help you. Or you could set yourself up as a freelance event manager that is hired by other businesses on an event-by-event basis. In either case, you’ll need to start by working out your target market, and setting up your website and social media channels on that basis.

Build up some confidence

Event management is a people business. You’ll need to deal with all sorts of people while running an event, and you’ll need to talk to people in order to build up your contact network and secure the work you’re looking for. All this takes a healthy amount of self-confidence, and that comes far more easily to some people than it does to others. If you feel that your self-confidence needs some work, then make the effort to take yourself out of your comfort zone. This could be by practising talking to clients over the phone, gaining experience in public speaking, and doing research into your industry so that you feel that you know what you’re talking about.

 

Get event insurance with Protectivity

One thing you’ll learn as you immerse yourself in the event management world is that you need to be prepared for anything. And when the unforeseen or the worst-case scenario occurs, you need to make sure you have the right response and protection in place, including comprehensive insurance for cancelled events.

For every type of event that you might be involved in running, Protectivity can give you the comprehensive, affordable insurance cover you need. Our policies include Public Liability insurance, cancellation cover, protection for equipment, and Employer’s Liability. So, if someone gets hurt, property gets damaged, or the event has to be cancelled for reasons beyond your control, your business won’t be left out of pocket.

Get Event Insurance from Protectivity

 

Get event insurance from Protectivity

 

*Disclaimer – This blog has been created as general information and should not be taken as advice. Make sure you have the correct level of insurance for your requirements and always review policy documentation. Information is factually accurate at the time of publishing but may have become out of date. 

Last updated by

Bee Ingram Image

Bee Ingram

Bee Ingram Image

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.