Endsleigh Insurance: Warning on the Cost of the Claim Culture

CLOUCESTERSHIRE, ENGLAND, February 20, 2011

A change in culture within Britain over the last decade has seen a rise in the number of insurance claims being made against businesses with respect to damages, caused to both individuals and their properties, reports insurance specialists Endsleigh.co.uk.

The risk of having a claim made against them is particularly prominent for businesses that interact with members of the public, either within their own homes or whilst out and about. Tradesmen, such as plumbers, electricians and joiners, are considered to be among the main professions at the highest risk of such claims, due to the very nature of their work which requires interaction between them and the general public on a daily basis.

Insurance claims can arise from anything as seemingly minor as someone tripping over a ladder or tool box, through to more serious claims brought against tradesmen by unsatisfied customers. Whilst the expense of an insurance claim may not appear to be that large initially, being put in the position of needing to reimburse or compensate members of the public (whether customers or passers-by) for an accident or injury can get expensive. Compensation for injuries can be complex and defending yourselves can cost many thousands of pounds.

With the economy still struggling to make a recovery, individuals and businesses alike have to closely control their outgoings as, more than ever before, every penny counts. The cost of an unexpected claim can be a severe blow to a business and, in some cases, can even force them into debt or bankruptcy.

A public liability insurance policy is designed to protect against the cost of both paying compensation claims made by members of the public and also against the legal charges which accumulate when dealing with and mounting a defence to such claims.

By investing in public liability insurance businesses achieve a piece of mind that, should an unfortunate event give rise to a claim against the business by a member of the public, no costs will have to be met.

With claims occurring more often, due to an ever growing number of "no win, no fee" legal services, combined with the increasing running costs with the rise in VAT, the opportunity to trade in the potential high costs of meeting claims, in favour of a set outlay is now more appealing than ever.

So with the number of liability claims made against business increasing along with the cost of the claims themselves, the question is not if you can afford public liability insurance, but can you really afford to be without it.

More information about liability insurance can be found at the Endsleigh Insurance website http://www.endsleigh.co.uk/

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Notes to Editors:

About Endsleigh Insurance Services Ltd
Endsleigh is the trusted brand for student insurance, and the only insurance provider recommended by NUS.

Endsleigh is an independent intermediary specialising in the provision of car, travel and home insurance and financial products for career people.

Originally founded in 1965 to serve the student market, Endsleigh has since broadened its products and services for graduates and professionals, as well as being the preferred insurance supplier for a variety of trade unions and professional organisations. The company offers a wide range of services including motor, home and travel insurance.

Endsleigh also offers business insurance through Endsleigh's Business team and financial advice through Endsleigh Financial Advice team.

Web: http://www.endsleigh.co.uk/
Facebook: http://www.facebook.com/endsleigh
Twitter: http://twitter.com/endsleigh

For further information, please Vicki O'Connell on 01242 866611/07951 011914 or Vicki.O'Connell@endsleigh.co.uk