Employers are being sued by their employees at an increasing rate, and defending against those lawsuits and the cost of judgments or settlements can put a serious dent in a company’s finances.
If you have employees, you should consider securing EPLI in case your company is sued for:
- Wage and hour violations
- Retaliation, or
- Unlawful termination.
Small- to mid-sized employers are commonly the most vulnerable to these charges because they often lack a large human resources department that keeps checks on potential risks, as well as a legal department that can guide a business when hiring, disciplining or terminating employees.
The cost of EPLI coverage will depend on:
- How many employees you have
- Whether your company has been sued by employees in the past
- Employee turnover, and
- Whether you have established rules and practices in place, including an employee handbook.
EPLI can be purchased as an endorsement to a business owners policy or a general liability policy. Also, a specific stand-alone policy can be written in conjunction with a business owners policy.
Leaders Choice can work with you to evaluate your exposure and find the coverage that best suits your organization.