It is important to ensure you have insurance to cover the costs of an unexpected illness, injury or accident including:

• Workers’ compensation insurance – this is mandatory when employing staff.
• Personal accident, illness and life insurance.
• Income protection insurance.

If you are a sole trader or partner you are not covered by workers’ compensation insurance. In the event of an illness or accident you may not be able to work and earn an income. Insurance is strongly recommended to cover you in this circumstance.