Employment practices liability insurance (EPLI) shields corporations from claims by workers that their employer has infringed on their legal rights as company employees.
This type of insurance is also available as a stand-alone policy that can be customized according to your business needs. Read on to learn more about your options when purchasing EPLI with Stampede Insurance Services.
What To Know About EPLI
When it comes down to it, employers of all sizes are vulnerable to lawsuits from current or former employees alleging various violations of labor laws designed to protect workers from exploitation. Even if your small business is only a modest start-up idea right now, you're never safe from legal risk in our litigious world. In general, the risk increases as your organization grows.
Whether you have some risk-takers in leadership positions or you want to make sure you're insured as much as possible, all firms should have a basic grasp of employment practices liability insurance or EPLI.
EPLI Coverage
EPLI protects an employer from claims filed by current or former employees and potential future employees. Knowing your state's regulations, having policies and procedures that meet or exceed them, and having a thorough EPLI before anything happens is the best defense against this risk.
The following are some EPLI risks that can be covered in your policy:
- Wrongful termination
- Discrimination
- Sexual harassment
- Negligent employee evaluation
- Wrongful deprivation of a career opportunity
- Invasion of privacy
Frequently Asked Questions
To know more, read some of the following frequently asked questions about EPLI for your business.
What type of coverage does EPLI provide?
EPLI covers improper acts that occur during the hiring process. Wrongful termination, discrimination, sexual harassment, and retaliation are the most common claims covered by such policies.
What is the significance of EPLI?
EPLI is a type of insurance businesses can purchase to protect themselves financially from prospective employment litigation. It can protect you financially from lawsuits ranging from sexual harassment and discrimination claims to wrongful termination and negligent evaluations.
Is EPLI identical to E&O?
E&O protects liabilities stemming from customer claims, while EPLI covers liabilities arising from employee claims. Since the two plans differ in terms of covered risks, you should consider getting EPLI and E&O insurance as a business owner.
Getting EPLI From Stampede Insurance
Stampede Insurance Services' qualified personnel can assist you in sorting through employee human resources and other compliance difficulties, lowering your risk.
EPLI is a form of liability insurance that covers claims made by employees who sue their employer for violating their legal rights. If you need proper coverage, get a free quote and reach out to our professionals at Stampede Insurance today!
Our trained professionals at Stampede Insurance Services can help you sort through employee human resources and other compliance issues and help reduce your risk. EPLI is a type of liability insurance covering claims made by workers who are suing the company for violating their legal rights as employees.
It provides protection for an employer in the event of claims made by employees, former employees, or possibly future employees. The best defense against this risk is knowing the laws in your state and having policies and procedures that meet or exceed and having a comprehensive EPLI in place before anything happens.
Employees can file lawsuits at no cost or risk to them, and they win 70% of jury trials. Call our office and protect your business by adding this coverage to your existing business package.
When it comes to employee human resources and other compliance issues, Stampede Insurance has the expertise to help you navigate the murky waters.
It shields employers from claims brought by current or former employees, as well as potential hires in the future. Having policies and processes in place that meet or exceed state regulations is the best protection against this risk. A thorough EPLI should also be in place before anything occurs.
At no expense to the employee, 70 percent of jury trials go in favor of the plaintiffs. Get in touch with us today!
