Employment risks are some of the most serious faced by employers. These risks can include sexual harassment and discrimination. Employment litigation can destroy a firm large or small. Employment Practices Liability Insurance otherwise known as EPLI is insurance that helps protect you against claims from your employees that result from the general conduct of your business
Employment Liability Facts
- Small firms are three times more likely to be sued by an employee than have a fire.
- EEOC changes have increased 30% over the past 5 years
- 7 out of 10 firms don’t buy EPLI
- 5 out of 10 firms think they have the coverage, but don’t
Why EPLI Form Is Important
- Covers the company and board
An EPLI (Employment Practices Liability Insurance) policy covers claims made against directors, officers, employees, the company and its subsidiaries. The policy can cover a long list of claims including wrongful dismissal/termination, sexual/racial/disability harassment, sexual/racial/disability/religious discrimination, employment related libel, slander, defamation and invasion of privacy, wrongful failure to employ or promote and retaliation
- Increased claims
It’s becoming harder to ignore the “Me” culture which continues to gather pace. Small and medium sized businesses saw the largest increase in claims in 2013, up 33% according to human resources experts. The average claim cost is over $150,000.
- Free legal help
Most EPLI policies provide free legal resources for firms to use, so you can call an attorney to help you through a tough issue.
The cost of a well written EPLI policy is very competitively priced.
We can design a specialized package according to your client’s needs. We are also proactive in identifying any factors that may increase premiums or change your risk. We also provide consulting and risk management options to protect your clients business.
We are Independent Agents, free to choose the best carrier for your insurance needs. We do not work for an insurance company; we work for you. We work on your side when you have a loss and follow through to see that you get fair, prompt payment and service. Partners Risk Services represents a carefully selected group of financially strong, reputable insurance companies, therefore, we are able to offer you the best coverage at the most competitive price.