Questions & Answers

Should you have any questions that are not covered below please email us at
enquiries@visionriskmanagement.co.uk and we will be happy to answer them and post them
for others to see

Q: Why should I consider cover in respect of my employees?

Throughout the UK, on average, there is an employment claim made every 5 minutes
Are you confident that your company is compliant with Statutory Employment Legislation and that, should your company have to defend itself against an employment tribunal claim, your company has the means to pay defence costs and any tribunal awards? As an employer you have a corporate duty to be compliant with Statutory Employment Legislation; alarmingly there are few employers that would be found compliant, should they be audited. This leaves an employer’s balance sheet highly exposed and represents a major business risk. Employers now face a far greater risk of potentially damaging disputes than their existing insured risks such as a fire, flood or a major theft. There has been a 15% increase in tribunal claims in the past year and an increase of 26% in respect of multiple-employee claims. In fact with the exception of race discrimination all showed an
upward trend with equal pay claims showing a staggering 155% increase*(*statistics released by the Tribunals Service Sept 2007). Most businesses are unaware that the maximum compensatory award for unfair dismissal has risen to £66,600 (2007) and there is no limit for discrimination claims. Does your business have the means to pay such an award as well as expensive legal costs to defend such a claim? The cost of defending a claim for just a single day can be around £3,500 and many claims will take several days to hear.

Every company has to comply with employment and H&S legislation large or small. Both awards and fines are not calculated on the size of a company, how many staff or corporate affordability, it is very much a case of one rule for all, and the legislation and awards are no respecter of company type, size or turnover. In fact in smaller companies there is an arguably greater risk of falling foul. There is generally less management time to spend on HR issues as well as less understanding of new and existing legislation. For most small companies it would not be financially viable to employ their own HR manager but the burden of legislation and the costs of getting things wrong could have a devastating effect on an employers balance sheet.

Q: How easy is it for an employee to make a claim against me?

Like it or not, more and more members of the public see claims as a way to gain without having to take any personal financial risk. Solicitors are queuing up with the offer of their services on a no win no fee basis, most papers & telephone directories will advertise these services not to mention TV and radio advertisements. Once a claim is lodged then expenses are incurred by an employer. Such expenses can be astronomical and in some cases have a devastating effect on a companies’ balance sheet.

Q: What is the average cost of a tribunal?

Over the last 12 months the average claims cost of defence preparation, other associated costs and the attendance of a specialist to defend a claim, not to mention the hidden corporate costs usually exceeds £6,000.00 which is often incurred in a single day. Furthermore, this does not take into account any awards made against you.

Q: What if our company is found innocent and it is found that an employee is just trying it on?

Watch out! Many employers fall into the trap of thinking that winning a tribunal will mean they will be able to recover their defence costs and the balance sheet will not suffer as a result. Wrong! Unfortunately, unlike other legislation, the employer is deemed guilty until they can prove hemselves innocent. In the event of an employer winning a tribunal it is unlikely that they will be able to claim or recover their costs. So even in the event an employer is deemed to be innocent there will be expensive costs which are the employers’ responsibility, not the employees.

Q: What can I expect to receive from purchasing the employsure product?

Q: Why not download our brochure found in the menu on our Home Page?

Vision Risk Management offers a diverse range of tailored solutions at a fixed budgeted cost to allbusinesses large or small. Below are just some of the services we offer, but this is not an exhaustivelist.
Whatever your requirements are contact us at enquiries@visionriskmanagement.co.uk

• A service that offers an insured solution which would pay your company’s defence costs and any
tribunal awards
• A qualified, local, HR consultant with whom your business could build a strong working relationship and who would become familiar with your business
• A consultant who would visit your offices to conduct a comprehensive Corporate HR & Compliance
Health Check which would be followed up by tangible, pragmatic advice
• A consultant who would review & rewrite your existing employment contracts and employment manual in line with the current statutory legislation
• A consultant who you could contact for advice when it is required, safe in the knowledge that you are receiving expert advice
• A consultant who is highly experienced in resolving employment disputes when they arise and that will handle and defend a claim in the event of an employment tribunal
• Access to the secure online employsure: website that enables you “Ask an Expert” in respect of HR and H&S questions, access to a library of compliant HR & H&S documentation and templates for your business to use at will, supported by a data base that would allow you to store your company’s
contracts of employment, employee handbooks and other documentation relating to employees
• A service that offers indemnity Insurance that will cover the cost of expert representation in the event of a H&S investigation
• A fixed cost budgeted HR solution at a cost that is significantly lower than employing your own expert HR manger & H&S advisor

Q: How can I obtain a quotation and book a consultant to explain and discuss how employsure: canhelp me?

Simply complete the enquiries section on this site and we will contact you to arrange an appointment at your convenience

Q: I need to find out a little more about employment law and understand it’s relevance to my business?

Employment Law is relevant to all businesses. No ifs, No buts, No maybe… For more information or formal advice why not attend one of our free national UK Employment Seminars? Should there not be a seminar in your area, don’t leave it, get in touch, we can for one of our consultants to visit you at your convenience. If there is a Seminar scheduled close to you then register… remember, its free with no strings attached.