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If you have employees, you are exposed to employment liability claims. Employees know their rights and it is time for all employers to be more informed about how to protect their company. Legislation such as the Family Medical Leave Act and the Americans With Disabilities Act, plus a growing number of job-related lawsuits and claims, have created the need for business owners to consider a type of insurance known as employment practices liability insurance, or EPLI. An Employment Practice Liability Insurance policy offers insurance protection against claims and lawsuits that are brought against a business, its officers or directors, or its employees and managers.

Claims can be broken down into the following categories:

  • Harassment
  • Wrongful Termination
  • Breach of employment contract
  • Discrimination
  • Invasion of Privacy
  • Compensation Issues
  • Employee Benefits Administration

In today’s world employers can no longer assume all employment relationships will go smoothly. Finding a suitable Employment Practices Liability Insurance program has become one of the single most important things owners and managers can do.

Ten Reasons To Have EPLI Coverage

  1. General liability policies don’t cover this exposure
  2. Wage and hour claims have tripled since 1997
  3. Over 60% of claims come from former employees
  4. 40% of claims involve firms with 50 employees or less
  5. The average cost to defend an EPLI claim is $150,000
  6. 47% of verdicts are between $100,000 and $500,000
  7. EEOC recorded over 93,000 complaints in 2011
  8. Claims can come from vendors and even clients
  9. The financial ramifications can cripple your firm
  10. Coverage is very affordable and easy to obtain

Contact PlatinumOne Insurance Agency for a free review of your insurance program. We have access to many competitive programs and will be happy to provide you with a quote.

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