Thank you for your question.
In terms of redundancy and dismissal, I am aware of a number of our customers who have employment contract addendums in place with their employees that they would inherit any penalty imposed as a result of termination through their poor performance or misconduct.
The contract can also always be novated to another employee, or move with the employee to the new employer if the employee receives new employment quickly, first at no penalty to any party.
In full transparency, the max risk for the employer with any of our lessors is up to 50% of the remaining lease, although unofficially this may not be imposed at all by the lessors if they can make a profit on the vehicle, which is highly likely they can given how good the used car market is - we are yet to see a penny imposed.
To help mitigate this, you will be saving approx £2,000 on average with each lease at maturity in employer's NIC which may buffer this.
We also hope to be able to cover redundancy very soon in our cover, and we are also working on being able to novate contracts between businesses as well as within them to avoid this as well.
Hope this helps.
Business Development Associate