The Federation of Small Businesses, with a membership of 170,000, has expressed concern that a number of small businesses were trading illegally as a result of their inability to secure adequate employers’ liability, professional indemnity and public liability insurance.
They report that exporters have been particularly hard hit as insurers pull out of providing such cover abroad.
Among other issues, this suggests that factors should treat the employers’ liability insurance requirement as an important item on the audit checklist when satisfying themselves that their clients are managing their businesses properly and honestly.
