This section will help you to understand, and take out, various types of business insurance. Compulsory business insurances usually include A people or businesses hiring one or more staff members.’ liability insurance (if you have Individuals hired personally to work under contracts of employment, usually in exchange for payment. Employees are normally fully integrated into the business and the employer exercises a large degree of control over their work. or apprentices) and motor insurance (if your business owns vehicles). You can face severe penalties, including criminal convictions, if you are not properly insured. Optional insurances include Insurance which covers claims from the general public for injuries or property damage caused by a business or its staff. and A form of insurance which covers the cost of compensation for injuries or other damage caused by a faulty product.. This section explains when you might need them too.