Employment Practices Liability Insurance (EPLI) is insurance that covers companies against employment related lawsuits such as claims of harassment, wrongful termination, breach of contract, or other work related issues.
The protection elements of Employment Practices Liability Insurance kick in to reimburse your company for the costs of defending against lawsuits and for settlements and judgments. Some common claims filed that can be covered are:
Retaliation (taking a negative action toward a person in response to a protected action or a decision they've made.)
Discrimination - Making decisions based on race, religion, sex, disability, age, equal pay, national origin, etc.
Negligent supervision of employees'
The costs associated with employment practice-related claims are on the rise. Employers may face a number of claims and lawsuits, and notably, a business owner doesn't even have to be in the wrong to be sued.
The right insurance to cover defense costs and damages related to these types of claims are important to help protect business owners and their business.
The overall cost of EPLI can vary depending on a few factors.
The cost for EPLI is determined according to the type of business, that business' hiring and firing policies, their employee count, their industry, and others. Call an expert at Links Insurance today to get more information regarding EPLI.