Businesses need protection from employment-related lawsuits.
Employment-related lawsuits have been on the rise since the early 1990s. You need the right business insurance policies to protect your assets from the costs associated with these types of claims.
Employment practices liability insurance (EPLI) protects business owners and corporations from employment-related claims against the business, its officers and directors and even its employees and managers. EPLI typically provides coverage for the costs associated with the following types of claims:
- Wrongful termination or discipline
- Gender, age and other types of discrimination
- Emotional distress or mental anguish
- Negligent compensation, promotion or hiring decisions
- Invasion of privacy
Employment practices liability insurance provides the right coverage.
Your commercial general liability and other business insurance policies specifically exclude coverage for these types of claims. Can you afford to remain unprotected? To protect your business assets from employment-related claims and lawsuits, you need an EPLI policy tailored to your needs.
Employment practices liability insurance covers your legal defense costs as well as any monetary settlements or judgments that your business must pay, regardless of whether you win or lose. EPLI policies exclude coverage for punitive damages and civil or criminal fines.
Any employer can be targeted by past, present and prospective employees.
Even if you are a start-up or only have a few employees, you are not immune to employment-related lawsuits and their costs. In fact, you may be even more vulnerable if you are a new business and your employment and human resources procedures are not fully developed.
If you are sued and the claims are entirely without merit, you still will incur defense costs.
At Strate Insurance Group, we specialize in business insurance. We have experience finding the right employment practices liability insurance policy for businesses of all types and sizes. Don’t let your business remain susceptible to employment-related claims.
Contact Strate Insurance Group today for all of your business insurance needs.