Small company owners often feel a false sense of security when they don’t have a large group of employees. However, it’s important to realize that you’re at risk for an employment claim from the moment you conduct your first interview. Small businesses often face higher risks because they don’t carry the same commercial employee policies as large corporate companies.
EPLI coverage goes beyond standard commercial insurance coverage to protect you from the following liabilities.
- Breach of Contract
- Emotional Distress
- Negligent Evaluation
- Wrongful Discipline
- Wrongful Termination
- Other Violations
EPLI coverage will reimburse you for judgments and settlements. It also covers defense costs whether you win or not. EPLI coverage can be added as an endorsement to a business owner’s policy (usually the case for small businesses) or purchased as a stand-alone policy.