Employment Practices Liability Insurance
Employment practices liability (EPL) insurance is designed to protect a company against lawsuits brought by members of its workforce.
This includes, but is not limited to, damages awarded for wrongful termination, harassment, discrimination, defamation and unfair hiring/firing practices. Today, employers are facing ever-increasing legal obligations while managing their employees. EPL coverage not only protects the interests of the insured, but provides the defense costs associated with employment-related litigation. If a lawsuit isn’t handled properly, it can cause irreparable harm to the reputation of an organization, as well as drain precious resources. Look to our team to help protect the interests of your clients.
Why EPL Insurance is Important
- Employment litigation is one of leading exposures organizations are currently facing.
- Recent trends such as #MeToo, #TimesUp and an increased focus on racial and social injustice have increased the typical amount and size of employee lawsuits.
- Increased privacy protections and the potential for more employee privacy violations are impacting litigation.
- COVID-19 employment-related litigation is expected to keep trending upward.
- Lawsuits based on the language in employee handbooks and other written policies/procedures are increasingly common.
- Compliance with ever-evolving laws in the workplace is not only costly, but requires expertise, monitoring and training.
- Commercial general liability policies are not adequate enough on their own.
- Mobile technology contributes to increased exposure and liability.
- Judgments against an organization can have devastating impacts on operating budgets.
Common EPL Coverage Topics:
1: Ask about past employment issues and claims.
2: Share real-world claim examples.
3: Outline the cost benefits of insurance versus the expense of a lengthy court case.
4: Discuss potential lawsuits and how the process would be paid for without insurance.
5: Determine the right combination of price and coverage.
6: Provide a number of different and reasonable coverage options.
helpful information: