Employers of all sizes have some level of employment practices liability exposure. Research indicates that as of 2017, employment lawsuits have increased by more than 400% since 1997.1 Bone, Robertson & McBride, Inc. has over 45 years of experience in the commercial insurance industry. Our customized commercial insurance programs can include crucial Employment Practices Liability Insurance (EPLI) to protect your organization from many of the adverse financial effects of claims made by employees.
Why Your Company Needs EPLI
Even those companies who have taken measures to mitigate potential EPLI claims, it doesn’t stop employees from filing lawsuits against you. The defense costs of these claims can cost upwards of $100,000 or more, resulting in financial devastation to your company. An EPLI policy helps cover the costs associated with covered claims. Considering this vital coverage to protect your business makes good business sense.
What Does EPLI Cover?
EPLI helps cover the costs associated with a claim made by an employee alleging discrimination based on race, age, disability, or sex. These types of policies may provide coverage for claims related to wrongful termination, harassment, wage & hour violation, and other employment-related problems. These workplace misconduct allegations can financially burden a business without EPLI coverage.
EPLI policies may contain a range of coverages that may include protections from the following types of employment-related claims and their associated legal fees that may arise from:
- Harassment
- Failure to promote
- Defamation
- Mismanagement of employee benefits
- Retaliation
- Wage & hour violation
- Negligent supervision of employees
- Invasion of privacy
- Negligent evaluation
- Wrongful demotion or disciplining of an employee
- Discrimination
- Wrongful termination
- Illegal background check
- Infliction of emotional or mental distress
- Pregnancy and lactation accommodation
- Alleged violation of Title II of the Americans with Disabilities Act (ADA)
Depending on your company’s needs, our brokers may recommend that you purchase a particular type of EPLI policy.
How EPLI Coverage Fits With Your Commercial Insurance Program
In today’s litigious corporate environment, it’s crucial to have business insurance policies to help cover your company’s potential exposures and risks. At Bone, Robertson & McBride, Inc. we offer comprehensive commercial insurance programs to meet your company’s needs, including the following:
- Insurance Package may help provide essential business insurance coverages at a discount:
- General liability insurance
- Commercial property insurance
- Business income insurance
- Management liability coverage typically includes EPLI, directors and officers coverage, fiduciary liability, and crime insurance.
- Commercial umbrella insurance or excess liability insurance may cover claim costs that exceed the limits of primary liability policies.
- Commercial auto insurance may cover vehicle repair and bodily injury expenses for your company’s automobiles.
- Cyber insurance coverage may assist with various first and third-party expenses resulting from a data breach or other cyber incident.
- Workers’ compensation insurance may help pay for employee hospital bills, treatment costs, and lost wages if an employee is injured on the job.
Contact Us
Contact us today to get access to our extensive network of “A” rated AM Best insurance carriers. We can provide you with the coverage your business needs at competitive rates.
Please reach out to our office at don@brmins.com or via phone at (800) 510-1095.
Endnotes
1. The Cost of Employment Lawsuits and How to Avoid Them, Smart Business, September 1, 2017. https://www.sbnonline.com/article/the-cost-of-employment-lawsuits-and-how-to-avoid-them/
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.