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Business Insurance… Does it really pay out?

That is the big question and one that employers and business owners forget about because they think that their insurance will pay fines…. Well this is not the case at all.

Due to the HSE prosecutions in 2014/2015, led to a total of 16.5 million in fines. Looking at the number of cases this covered it is an average of £27,177 per company. Like I said, the insurance you have will not pay out.

Where do you think this money came from to pay the fine? It’s easy… Consequently, the business owners own accounts or the actual business accounts.

Now the fines depend on a number of factors which includes the followings:

  1. The actual breach
  2. The severity
  3. The financial state of the company with bigger companies paying bigger fines.

You can simply avoid this by first of all following the correct Health & Safety procedures in the first instance with: policies and procedures, risk assessments and training. Therefor for the cost of an Awareness Course for staff in Health & Safety and Moving & Handling in the workplace, employees are made aware and trained on keeping themselves and the company safe.

The HSE are not there to trick you and sneak things in and they do produce easy read guides to take away the uncertainty.

Purple Dog run a number of Health & Safety courses to help businesses and employees protect themselves, from Health & Safety Awareness courses to Level 2 (Highfield Awarding Body) courses. The courses are run at our training room in Deighton Huddersfield or can be run ‘in-house’ on the company site. There are also a number of online Health & Safety courses available including Abrasive Wheels and Asbestos Awareness. The online courses are for those who prefer that learning style. Therefore, customers can purchase these courses on our website. https://www.purpledogltd.co.uk/courses/

Just as a footnote… How many new pairs of shoes could you buy with £27K? How many holidays could you have in some exotic destination? Even more, what about that bespoke Snap-on tool kit you have always fancied?

Perhaps, put that way, for that reason attending a £85-day course is certainly worth it.

Helen

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