FRIDAY, OCTOBER 21, 2022
Employment practices liability insurance (EPLI) is a type of commercial insurance that can provide coverage for lawsuits alleging that your organization engaged in actions during the employment process that violated employee rights. Large corporations, small businesses and nonprofit entities face this exposure and should consider this coverage.
The experienced team at The Insurancenter in Joplin, Mo. can provide more information on EPLI and other commercial insurance coverage. Contact us today for details about building an insurance portfolio that best addresses your organization’s needs.
Understanding EPLI Coverage
EPLI may cover expenses associated with employment-related lawsuits, such as:
- Court costs
- Legal defense
- Settlements
- Judgments
This coverage may apply even if the claim is eventually dropped. Prospective, current or former employees may file these suits with allegations that your organization violated their rights through wrongful workplace practices such as:
- Discrimination
- Harassment
- Retaliation
- Failure to promote
- Wrongful termination
- Failure to hire
- Defamation
- Wage violations
Your agent can provide additional information on coverages, limits and exclusions. EPLI may be packaged with other management liability policies, such as fiduciary liability insurance, directors and officers liability insurance, and special crime insurance, or it may be available as a stand-alone policy.
Who Needs EPLI?
Organizations with employees should consider securing EPLI, regardless of their size or industry. This could include small businesses, large corporations or nonprofit entities. Other commercial insurance policies, such as general liability insurance or workers’ compensation insurance, typically do not cover wrongful employment practices claims. EPLI can help fill this coverage gap.
How Much Does EPLI Cost?
The cost of employment practices liability coverage depends on several factors. Your organization’s workforce size, industry, selected coverage limits and history of facing employment practices lawsuits could impact premiums. Reach out to our agents for a quote.
Risk Management and EPLI
Implementing risk management techniques may help reduce the likelihood of encountering a wrongful employment practices lawsuit. Strategies organizations may consider include maintaining robust policies and procedures on proper workplace practices and regularly holding training sessions on these topics.
How To Get EPLI
The knowledgeable professionals at The Insurancenter can help your organization get the EPLI coverage that best addresses your its needs. Contact us today for details.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.
No Comments
Post a Comment |
|
Required
|
|
Required (Not Displayed)
|
|
Required
|
All comments are moderated and stripped of HTML.
|
|
|
|
|
|
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only.
It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
in your state. By using this blog site you understand that there is no broker client relationship between
you and the blog and website publisher.
|