Protect Your Business Against Employment Practices Claims
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Employment practices liability insurance (EPLI) refers to the risk that businesses face regarding their employment practices and the potential legal liabilities arising from them.
Despite the common perception that large corporations are the primary targets, businesses of all sizes are susceptible to employment practices liability litigation, even when they operate with the best intentions towards their employees.
EPLI claims are costly and time-consuming. Most employee lawsuits last at least one and half years, and on average, defense costs over $100,000 per case.
EPL insurance fills the gap left by other policies, providing protection against employment-related claims. It can be purchased as a standalone policy or included as part of a package with additional coverages.
Contact us today to learn more about EPL insurance and other insurance solutions tailored to your business needs.
Employment practices liability insurance protects against a variety of employment-related claims including, but not limited to:
Not having employment practices liability insurance (EPLI) exposes businesses to significant financial and reputational risks. Without coverage, companies face potential financial losses due to legal expenses and damages from employment-related lawsuits. These lawsuits can also damage a company’s reputation, leading to negative publicity and loss of trust among stakeholders. Operationally, dealing with such lawsuits can disrupt business operations, hinder productivity, and divert resources away from core activities.
Businesses need EPL insurance because it protects them from the high costs of defending against employee claims, settling them, or helps cover judgment payments if the case is lost. As employment-related lawsuits can be financially draining and damaging to a company’s reputation, EPL insurance helps ensure the stability and continuity of operations.
Absolutely. Small businesses often face significant financial and reputational risks from employment disputes. EPL insurance provides a safety net, ensuring that even small entities can defend against employment-related claims without jeopardizing their financial stability.
If a claim exceeds the coverage limit of an EPL insurance policy, the business is responsible for paying the difference. This underscores the importance of selecting adequate coverage limits based on the company’s size, industry, and exposure to potential claims.
Businesses can reduce these premiums by implementing strong employment practices, conducting regular training on harassment and discrimination, maintaining a clear employee handbook, and promptly addressing complaints. Demonstrating a commitment to a safe and compliant workplace can lower the risk profile and, consequently, the insurance cost.
Enjoy peace of mind knowing we’ve got you covered.
Get a Quote(877) 207-7900
General Liability Insurance keeps your business safe from financial trouble if someone gets hurt or their property gets damaged because of your business. It covers legal fees, medical expenses, and damages. Perfect for any business wanting peace of mind against unexpected claims.
Mandatory in most states, this insurance covers medical expenses and a portion of lost wages for employees who get injured or sick from their job.
An auto policy protects your business’s vehicles. Those might be cars your employees drive for business activities, trucks for transporting goods to customers, or contractors traveling with tools and supplies between job sites.
