Small business indemnity insurance from Peninsula
Protecting your business
Being served with tribunal papers is a devastating blow for most businesses, but even more so for a small business. The costs incurred during the tribunal process – from the award or compensation itself to the fee of your employment law solicitor – can often be enough to cripple a company. Meanwhile, the stress and anxiety of the situation can cause many a sleepless night for small business owners.
Peninsula now offers employer indemnity for small businesses, with five employees or fewer. Small business indemnity insurance covers the costs arising from Peninsula's representation of an organisation at an employment tribunal, including fees for preparation and even the potential award decided. This means businesses of any size can enjoy the peace of mind that comes from knowing you'll be covered, even if the worst happens (providing you follow Peninsula's advice). However, it also means you'll have the UK's leading employment law specialists on your side, for unbeatable expertise and support.
The services we provide small businesses in an employment tribunal include:
- Filling in and keeping on top of any tribunal documentation or paperwork
- Dealing with all correspondence relating to proceedings
- Interviewing witnesses if applicable
- If a settlement can be reached, we will negotiate on your behalf
- When it comes to the tribunal hearing, Peninsula will attend it and represent your company
- In the event of an appeal, we will handle that as well
- Throughout tribunal proceedings, we ensure you are kept up to date. We know it's not just your business, it's your life.
This cover is included in the monthly cost of the Small Business Package. This fee is fixed, guaranteeing no nasty surprises such as additional costs or price increases.
Prevention is better than cure
Around 100,000 disputes result in an employment tribunal every year, in businesses of all sizes and in all industries; it's no stretch of the imagination to think it could happen to you.
Of course, in a best-case scenario, a Peninsula client will never reach the tribunal stage. We like to think that the small business health and safety and employment law advice provided by Peninsula ensures your company will be fully legally compliant. This support is available via our 24 hour advice line, or the Peninsula Online resource centre, the equivalent of a dedicated and experienced HR department at your disposal.
A fully indemnified service
Having employer indemnity insurance is a little like having a fire extinguisher in the workplace. You pray you'll never need to use it, and most of the time you barely notice it's there; but if the unthinkable should happen, you know exactly what to do and you're very glad you had it to hand. Bearing this in mind, it seems ludicrous that any business would neglect to take out indemnity insurance.
Peninsula's small business indemnity insurance – for companies with five employees or less – is included in the fixed monthly cost of the package. Peninsula's employer indemnity insurance policies, provided through Irwell Insurance Company Limited, are authorised and regulated by the Financial Services Authority (FSA). There is a high upper limit for a single event and for a policy year.
Giving small businesses the full package
Also included in the package is expert help with employment law for small businesses. Whatever time of the day or night an employers law question needs to be answered, small business customers can speak to an expert consultant with our 24-hour legal advice line. A library of notes and guides to legislation is also available through the Peninsula Online resource centre.
What might appeal most about the package is that customers can compare it to small business HR outsourcing. For a small monthly fee, your HR needs are met by not just one employee, but a whole team of experienced individuals. From bespoke employment documentation to health and safety policy software, all fully indemnified, the Peninsula small business package guarantees unbeatable value for money and peace of mind.