Which type of liability insurance is compulsory by statute for a company employing 100 people that designs and manufactures shoes?

Employers' liability insurance is mandated by law for businesses that employ staff, including those with 100 employees like a company that designs and manufactures shoes. This type of coverage protects employers against claims by employees who may suffer work-related injuries or illnesses. The legal requirement ensures that employees have access to compensation in the event of workplace incidents, which is critical in industries such as manufacturing where the risk of injury can be higher.

The law requires this coverage to mitigate the financial burden on employers and to provide a layer of protection for employees, ensuring they can receive necessary support and medical care if injured on the job. Other types of liability insurance, such as products liability, professional liability, or public liability, serve different purposes and are not generally mandated by statute for all employers. Each of these other types handles specific risks related to products sold, professional services provided, or injuries to the public, respectively, but they do not fulfill the statutory requirement directly tied to the safety and welfare of employees in the workplace.