Protect Yourself Against Employee Lawsuits
Any business that hires employees or independent contractors faces unique liabilities. Disputes that develop between workers and employers can quickly escalate into lawsuits. Employment Practices Liability Insurance (EPLI) protects you from claims of unfair business practices made by your employees.
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WHAT IS IT?
Employee Practices Liability Insurance provides coverage to employers for claims made by employees. Common examples of employee claims include discrimination, wrongful termination, harassment, and failure to promote. No business is safe from these types of allegations.
WHY DO I NEED IT?
No employer is exempt from allegations of unfair business practices. The resulting lawsuits are expensive and could put significant strain on your business’s finances and reputation.
WHO IS IT FOR?
Every business with employees can benefit from EPLI coverage. Even companies with only one employee are at risk of being exposed to employment lawsuits.
Small company owners often feel a false sense of security because they only have a few employees. However, it’s important to realize that risks exist 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
A policy will reimburse you for judgments and settlements. It also covers defense costs whether you win or not. You can add EPLI as an endorsement to your business owner’s policy (usually the case for small businesses) or purchase as a stand-alone policy.
Get Insurance Coverage
Tailored To Your Business
Quote Request Form
Get Insurance Coverage Tailored To Your Business
Quote Request Form
EPLI Coverage Frequently Asked Questions
EPLI coverage provides a unique source of liability coverage not taken care of by your other commercial policies. It can often be difficult to compare EPLI coverage to your other policies and figure out how to fill in the gaps. Here are a few of the questions our valued customers ask about EPLI coverage.
The general liability limits in a business owners policy or commercial policy provide coverage for bodily and advertising injury and property damage. It does not cover costly employment claims like sexual harassment.
Most employers assume worker’s compensation covers all employee-related issues. However, it’s important to remember that worker’s compensation exists to protect your employees against bodily injury and to pay for legal coverage due to related negligence. An EPLI policy provides additional coverage for claims made by employees.
EPLI policies cover the defense costs of claims for wrongful termination, breach of contract and loss of benefits.
Cost of coverage varies. Many factors go into the price of an EPLI policy, including:
• Number of employees
• Rate of employee turnover
• Employment procedures
• Desired amount of coverage
• Desired amount of deductible or self-insured retention
• Past claims
Most EPLI policies are “claims-made”, which means the policy must be in effect both when the alleged event took place and when a lawsuit is filed. Policies can be created with a retroactive date, which covers incidents before the policy was purchased.
Learn More About EPLI in Massachusetts
To learn more about EPLI coverage or any of our other commercial insurance policies, get in touch with the LoPriore team today. Our agents are available 24/7 to answer your questions, provide a quick quote, or provide details about the insurance policies that fit your lifestyle.
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