Business decisions like hiring, firing, compensation, promotions and work environment are made every day. All of these decisions impact your employees – meaning some could result in a claim related to wrongful employment practices.
A wrongful employment practices claim, even if false, can disrupt business, hurt morale, damage your reputation and potentially lead to financial damages. Employment Practices Liability Insurance provides businesses protection from these risks.
There are many benefits that could be included in an EPLI policy, the following are a few examples:
Timely responses to lawsuits: Employers being sued by their employees is common, and being prepared is vital.
Access to Legal Help: EPLI often provides access to legal resources, providing you the advice you need quickly.
Risk Management Strategies: Access to risk management and human resources consulting can help avoid a claim altogether.
Additional protection for Directors and Officers: While D&O insurance can defend against employment-related lawsuits, having an EPLI policy ensures the limits of your D&O policy are not exhausted unnecessarily.