Employment Practices Liability Insurance (EPLI)

Did you know your company can be financially devastated when a savvy trial lawyer teams up with a disgruntled employee to file an Employment Practices Related Lawsuit?  It happens every day to businesses large and small. You should strongly consider taking proper steps to protect your company against financial ruin.

Myth: My business doesn’t need protection!

Don’t believe it!

Employment laws are intended to help individuals protect themselves against certain wrongful acts committed by their employers.  Unfortunately, all it takes is a smart attorney to turn this protection into a deadly legal weapon… a weapon that could financially RUIN your company. As usual, ignorance of the law is not a defensible position. Employers are expected to know and comply with the federal, state, and local employment laws that govern their businesses. Sometimes these regulations appear to defy common sense. Consider the following examples:

• For almost every federal law governing employment practices, there is a more stringent state-mandated statute on the books. Worse still, companies must be in compliance with the more restrictive of the two.

• In many jurisdictions, employees are allowed to miss work for school events and court proceedings.

• Employees caught using illegal drugs should be terminated, right? Wrong.  Drug addiction is considered a disability and the addict may be protected under certain ADA statutes. This is one that many of our clients we’re unaware of.

• Sexual harassment training is mandatory in some states. Did you know that employment discrimination suits are one of the most common heard in the federal courts, behind only criminal and prisoner-related cases?

Myth: My business can absorb the cost of a lawsuit.

Fact: A significant number of employment-related cases are frivolous. But even winners are losers. The cost of defending a groundless suit can exceed $50,000.00

And recent studies show that…

• Discrimination claims, average award: Over $490,000

• Discrimination claims, high award: Over $12,000,000

• Retaliation claims, average award: Over $494,000

• Wrongful Termination claims, average award: Over $519,000

Are you really willing to gamble your business on one greedy employee?

As a business owner, you need to protect your company from the financially crippling judgments that can result from employment related claims and lawsuits. Employment Practice Liability Insurance (EPLI) protects you from claims and EEOC complaints of Discrimination, Wrongful Termination, Sexual Harassment and other Employer/Employee related claims brought by your employees.

Ask yourself: How much could you afford to pay on an employment related claim before feeling the financial burden? How would a $30,000+ EPLI claim impact your business?

Typically, companies with 100 employees or less are buying EPLI with annual coverage limits of $1,000,000, and a retention/deductible $5,000. Lower limits and higher retentions are available.  Minimum premiums are $1,500.00

Call us at 800-347-5373 or email us at support@insuranceguys.com we’ll walk you right through it, from the beginning… right to binding, headache free.

Don’t put your business at risk any longer!

Click to get a Quote!