NobleHR are officially recognised by AXA Insurance to provide HR advice to SME's who wish to be covered by their full Employment Practices Liability Insurance, to a maximum of £250,000 for each and every employment tribunal claim.
The Benefits of AXA EPL
The key benefit of this policy is that it combines the advantages of a cheap LEI (Legal Expenses Insurance) policy with the commerciality of the more sophisticated EPL product.
Faced with a difficult situation, you have the choice of taking advice from Noble HR, and thereby reducing the excess to nil, or alternatively, where it is impossible to achieve a legally safe way of dealing with a matter, you have the option of taking a very risky approach, safe in the knowledge that your total liability in relation to any dismissal or other action cannot be more than £3750, including legal fees and compensation.
This avoids the problem inherent with LEI policies that in order to benefit from the insurance, the insured basically delegates the management of HR issues to a usually very cautious adviser. In most LEI policies, the interests of the adviser are aligned to the insurer, rather than the insured, which can mean that extremely cautious advice is given, in order to protect the interests of the insurer. For that reason, we do not recommend LEI policies, which on the face of it seem to offer good value, but in reality are often virtually worthless.
The premiums associated with the cover are set out on the proposal form, and there are no special circumstances – that is to say, there is no claims history and provided the insured is not intending to do something radical during the insured period, like conduct a redundancy programme or a major restructuring, the premium quoted will always be the book price quoted on the proposal form.
Minor things like planning to address a particular poor performer in the year do not affect the price.
We are aware of a recent case in which the potential insured was proposing to make redundant 10 people during the year in question, and the premium was loaded by £100 to take account of that extra risk, so in general AXA do not excessively load the premium even if you are considering major change.
The premiums are based on annual turnover, and start form £300 plus Insurance Premium tax per annum.