Employment Practices Liability Insurance
The workplace landscape is complicated today. Employee disputes, inappropriate behavior, and societal changes have brought on new challenges for employers. Over the years, we have seen an increase in litigation involving employment-related issues. To protect against these types of claims, Employment Practices Liability Insurance (EPLI) is must-have coverage for all types of businesses and sizes.
EPLI: Part of Doing Business
EPLI is specialized insurance designed to protect against loss incurred in litigating and settling wrongful employment practices liability claims. It provides protection against discrimination, sexual harassment, breach of contract, retaliation, and wrongful discharge suits, which usually are not covered by General Liability insurance. An EPLI policy typically provides reimbursement for the costs incurred in defending a lawsuit and resulting settlements and/or verdicts.
Costs for EPLI are dependent upon the size of the organization, the type of business and other risk factors.
Baldon Group will review with you the scope of coverage and the adequacy of limits when evaluating and selecting insurance policies, as policies vary. We want to ensure that the policy fits your company’s needs.
Sound Employment Practices Key to Mitigating Risks
An EPLI policy does not replace the need for robust employment practices. This includes having up-to-date hiring practices, employee handbooks, post-incident investigation practices, and arbitration or mediation policies. Along with our carrier partners, we can assist you with this.