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Written by
on 21 September 2011


Health and safety in the workplace and insurance go hand in hand.  Businesses need adequate insurance to cover them for risk in the workplace whether it’s risk to their employees or people visiting the site.

Putting in place and maintaining the correct health and safety procedures means that insurance premiums could be lower, as the business is less likely to make a claim.  Any business with employees needs to have Employers Liability Insurance to cover a member of staff having an accident at work or falling ill.  If the correct health and safety procedures aren’t followed, accidents and injuries are more likely to happen.

Insurance Premium

Insurers look at the risk of a business before deciding on whether they can insure that business or not or how much the insurance premium will be.  If the business is following health and safety procedures correctly they are more likely to be able to secure a lower premium as they are less likely to have to make a claim on their Employers Liability Insurance.

Depending on the type of business it might be wise to choose to take out other kinds of Liability Insurance.  Product Liability Insurance or Public Liability Insurance cover other circumstances that could arise, for example accidentally supplying a faulty product, or a customer injuring themselves on your premises.

A business that owns it’s own fixed premises will need Buildings Insurance to protect the actual structure of the building.  This cover isn’t always sold with Business Insurance but it is essential if a business operates out of premises that it owns itself.

Health and safety is an important consideration for companies. Firstly it’s an important part of running a successful business in terms of legal requirements, employee well being, motivation and professional image.  And secondly, following correct health and safety procedures can mean you are more likely to be approved for insurance cover, together with an increased likelihood of cheaper business insurance premiums.

About the author

David Cant is a Director at Veritas Consulting. The SME’s favourite go-to consultant for health and safety know-how. Bucket loads of experience. Fluent in practical advice. Solutionist with a brain you can pick. You can find him across social media on Twitter, Facebook and Linkedin.