26 Mar Employment Practices Liability Insurance
Employment Practices Liability Insurance
By: Matthew Johnson
WHAT IS EPLI?
Employment Practices Liability Insurance is a type of coverage that protects employers in the event of alleged claims of work-related sexual harassment, discrimination, and hiring and firing practices. These claims may be brought by current employees, former employees, and by employee candidates.
WHO NEEDS EPLI?
Any company or business owner with at least one employee should have an EPLI policy. Just one employment lawsuit can put your small business out of business.
DOESN’T MY CURRENT POLICY COVER EPLI?
Possibly, depending on how your current General Liability (or GL) policy was written. Some GL policies will exclude EPLI, whereas others may include a sub-limit of around $10,000-$50,000. These low limits will be exhausted quickly in a lengthy lawsuit. Workers Compensation insurance cover workplace bodily injury claims and will most likely exclude EPLI claims.
WHICH CARRIERS OFFER EPLI?
As mentioned above, many insurance carriers that cover business-owners policies will include a sub-limit for EPLI. There are also companies that specialize in writing stand-alone EPLI policies with higher, dedicated limits to cover larger companies.
THE BOTTOM LINE:
As your Business grows, so does the risk of hiring additional employees. Any company with 15 or more employees is subject to Title VII of the Civil Rights Act of 1964. This federal law prohibits employment discrimination based on race, color, religion, sex or national origin and was later amended to include age, pregnancy and disability.
At Stone Creek Insurance Agency, we have access to many insurance programs and carriers that specialize in EPLI coverage. If you are concerned about properly protecting your business in an employment-related issue, give Matt Johnson a call at 925-297-4759 for an EPLI quote today!
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