Employment Practices Liability Insurance (EPLI) protects employers from allegations made by employees claiming discrimination, harassment, wrongful termination, and other employment related issues. The most discerning employer can find themselves in a situation where an employee believes that their legal rights have been violated and find themselves defending a lawsuit.
Defending an employment practices case takes time and money. Probably as important as money and time is the emotional stress. As an employer, you strive to treat your employees fairly and equally doing things in their best interest. When you receive suit papers alleging harmful business practices, this shatters the belief that you are doing the right thing. Sound business sense may give way to rising negative emotions.
What does the EPLI Policy Cover
Purchasing an Employment Practices Liability Insurance policy is a smart choice to alleviate the stress, lost time and costs associated with any employment practices claim. Let the insurance claims expert handle the matter calmly and quickly. They will strive to settle the claim in a fair and equitable manner. This will help your business to mitigate or eliminate the any disturbances caused by the claim. It will shield management from defense decisions and help to keep employee’s morale high.
The policy can be expanded to provide additional coverages to protect the company. Endorsements can be added to the standard Employment Practices Liability Policy to provide additional coverage for Third Party Liability or violations of the Immigration Reform and Control Act and defense against Wage and Hour claims. These endorsements will contain their own conditions, deductibles and sub-limits.
How much does EPLI Cost
The cost of an employment Practices Liability policy is relatively inexpensive when compared to the protection you receive. In addition, most insurers will provide a hot-line telephone number to give you immediate access to their harassment training courses, advice from employment law attorneys, webinars and state-specific employee handbook creator.
If you do not have an Employment Practices Liability Policy in place now, call us and let us get you protected. Every business should have this policy in their insurance portfolio. Premiums are based on the individual business exposures and limits purchased.
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