Have you hired a new employee recently? Or, given the tough state of the recent economy, have you had to fire an employee recently? What if that employee felt they were being terminated due to their race, gender or religious practices? How much do you think it would cost to defend an employment-related lawsuit? Do you have the correct documentation in place to have the suit dismissed?
Employment Practices Liability Insurance, also known as EPLI, is insurance that protects your business against claims from your former, current and potential employees that results from the general conduct of your business. Some common examples of Employment Practices Liability Insurance include:
· Wrongful Termination
· Sexual Harassment
· Hostile Work Environment
· Lack of Advancement
These types of claims occur on a daily basis. According to a recent study, the average payout on an EPLI claim has increased over 30% to $180,000.
But McFarlin Insurance has you covered! Some key elements of Employment Practices Liability insurance include:
- coverage for all employees and leased employees
- 3rd party coverage.
- Defense costs included in the coverage limit
If you’d like more information on this product, or are interested in obtaining a free quote, give us a call today!