Did you know that a business owner is more likely to be sued over employment disputes, than other type of liability claim? Nearly 75% of corporate litigation today results from some type of employment dispute. Small business is not immune from this trend. In fact, nearly 40% of all employment related disputes are filed against businesses with less than 100 employees. Fortunately, there is solution to protect your company from employment disputes: employment practices liability insurance.
Also known as EPLI coverage, employment practices liability insurance protects your company from a range of employee disputes, including:
- Discrimation based on age, gender, religion or sexual orientation
- Sexual harassment in the workplace
- Wrongful termination
- Failure to promote or employ
- Whistleblower or retaliation claims
- Negligent evaluation
- Wrongful discipline
- Claims of emotional distress
- Failure to adopt adequate workplace policies or procedures
- Employment related defamation or invasion of privacy
Most imporantly, EPLI insurance covers the cost to defend a claim, regardless of whether the allegation has merit or is factual. Employment practices liablity insurance is surprisingly affordable. Stand alone policies start around $500 per year and coverage can sometimes be added to your existing business insurance policy for much less.
We recommend you contact us today for a no-obligation quote or review of your current policy. With our multiple markets and years of experience, we know we can find you the right EPLI policy, at the right price.