Keeping a business safe and secure from the consequences of employment claims is a constant challenge, particularly for small employers for whom a successful claim can have major consequences. Employment tribunal claims have increased by up to 100% in some parts of the country over a comparative period before and after the abolition of employment tribunal fees last year. This is a clear indicator of increased risk.
A strategy to reduce that risk does not need to be complicated. Applying the principles set out in the ACAS Code of Practice, dealing with employees fairly and objectively at all times and taking practical advice before taking action will not only reduce the risk of claims but will help run a healthier business. In order to complete the circle, employment practices liability insurance can give additional peace of mind and reduce the risk of facing what can now be severe financial penalties in the event of a tribunal award being made.
There are different variations of employment practices liability insurance and care should always be taken to ensure that if you are taking out a policy it is the right one for your business.
UEL has collaborated with insurance brokers and an underwriter to develop an employment practice liability insurance solution that is exclusively available for clients of UEL member firms. Employment lawyers who are part of the network always have access to many other specialists which means that they can easily source backup or a specialist opinion. This can help reduce risk to the client with the knock on effect that the insurer can provide favourable policy terms to reflect that. The United Employment Lawyers network has been designed entirely with the interests of end user clients of member firms uppermost. This applies all the way from the initial advice taking process to the conclusion of any litigation.
The policy is underwritten by RSA, one of the world’s leading insurance groups providing products and services in over 140 countries. It has agreed to waive any excess for clients of UEL member firms, provided the client has first taken legal advice from a UEL lawyer. This has been done with a view to creating maximum peace of mind particularly for the small employer for whom the excess on a policy alone can be a significant liability.
Commenting on the policy, UEL partner broker Satvinder Breeze says:
“The insurance solution is primarily there to help UEL clients. However it also provides UEL member firms with an opportunity to add extra value to their existing employment law services by deepening and strengthening the relationship they have with their clients. This service is designed to complement their existing services by offering clients an extra level of support and peace of mind.”
UEL is not involved in broking but you can request a brochure by emailing:
Alternatively you can contact UEL partner brokers brokers SKB Risk (an RSA authorised broker) and download the brochure by clicking on the following link:
The information contained herein is based on sources we believe reliable and should be understood to be general risk management and insurance information only. The information is not intended to be taken as advice with respect to any individual situation and cannot be relied upon as such.
As with all insurance policies, terms and conditions apply. For more information, please contact email@example.com
SKB Risk is authorised and regulated by the Financial Conduct Authority and is an authorised RSA agency.