Tuesday 13th March 2007
Insurance provider More Than is warning of the potential impact on business banking of failing to comply with fire regulations.
The insurer notes that fines of up to £10,000 may be imposed on companies which do not meet with new fire safety legislation.
Under the new rules, businesses are required to carry out new risk assessments as old fire safety certificates are rendered obsolete.
All companies with five or more employees will be required to obtain a new certificate or face penalties, More Than claimed.
Mike Bowman, head of insurance at More Than Business, said: "We know that for a third of small businesses health and safety is their biggest burden."
"We are calling for those who havent yet taken action on the law to set aside some time to make sure they are protected," he added.
More Thans business banking services include building and contents insurance cover of up to £350,000.
©
Everything on preparing your finances for your children's futures. From Child Trust Funds through to tax planning. Request your FREE brochures here.
