You need insurance as a business owner. Having the right insurance policy in place can help your business survive a claim. Without the right insurance policies, your business would be responsible for the cost of defending employment-related claims. Employment practices liability insurance is one type of business insurance you need to help ensure your company survives the strain of an employee claim. EPLI protects businesses that hire, manage, and sack employees. In addition, it covers wrongful acts arising from the employment process.
Who Needs EPLI?
Businesses of all sizes, including employers with just a few employees, can benefit from EPLI coverage. Common industries that need EPLI include:- Hospitality
- Retail
- Manufacturing
- Health Care
- Financial Services
- Nonprofit organizations
- Construction companies
- Professional Services (lawyers, accountants, consultants)
How Does EPLI Protect Your Business?
EPLI is a type of insurance that provides coverage for businesses against claims made by employees or former employees. Claim includes:- Wrongful termination
- Discrimination
- Sexual harassment
- Other employment-related allegations. Employment Practices Liability Insurance protects businesses from the financial costs of defending against these claims and any damages awarded to an employee in a successful lawsuit. It also covers the legal fees associated with defending your business in court. By providing coverage for these potential liabilities, EPLI helps employers protect their assets and reputation while ensuring that employees are treated fairly in the workplace.
