 Home > Services > Program Business > Employment Practices Liability Insurance Program
Employment Practices Liability Insurance Program
 In recent years employment-related claims have made up nearly 75% of all litigation filed against businesses. And it’s no longer “big business” that’s forced to defend themselves against employment practice claims—in fact 40% of all such claims are filed against private businesses that have between 15 and 100 employees.
Not only are claims based on employment practices damaging to an organization's reputation and workforce morale, but they also can be quite costly, with litigation expenses exceeding even the amount of a judgment if a plaintiff prevails.
While Human Resource specialists provide invaluable assistance in the management of the risks associated with the employment of people, they cannot influence or manage every detail of communication and contact at the employer’s site. For this reason, an employer should seriously consider the purchase of Employment Practices Liability Insurance (EPLI).
EPLI protects employers in the event of such workplace claims as discrimination, wrongful termination, and sexual harassment. Generally, a policy covers eligible losses stemming from such causes of action, as well as associated litigation costs, including attorneys’ fees. EPLI Insurance can also include third party liability, which protects an insured against claims from third parties alleging such violations as discrimination or harassment.
Of course, EPLI insurance should be considered only the last line of defense in a business’s risk management arsenal. Providing your employees with comprehensive, regular training can substantially reduce the risk that they will engage in the sort of behavior that leads to litigation. Also, well-written and properly enforced policies are essential for keeping your business in compliance with the many regulations covering the workplace.
Setnor Byer partners with our clients to carefully examine your business’s training programs, employment practices, and compliance record to determine your degree of exposure to litigation. Should you not have these resources available, we offer a full solution to your Employment Practices needs, including best-in-class training, policy development, a Human Resource Consultant Helpline, and more. To learn more about our Employment Practice Liability Insurance Program, contact us.
|