Even well-run companies with strong employment-related policies and procedures can face allegations of wrongful employment action. Defending employment-related allegations can cost thousands of dollars and be detrimental to your business.
Business owners need to be proactive about protecting your business from the staggering costs associated with employment practice-related claims with comprehensive Employment Practices Liability (EPL) insurance.
Do you want the ability to decide for yourself whether or not to accept a settlement offer in a lawsuit, rather than having no choice but to leave the decision to your insurance company?
Do you want a policy that covers your employees, including temporary, part-time and leased?
Does your company need assistance from an expert in employment law?
Do you want coverage for defense costs and damages – like attorneys’ fees, compensatory damages and, where permissible, punitive damages – that could be assessed against you or your company?
Do you want an insurance policy that gives you the opportunity to purchase additional limits that you may need to pay defense costs charged by your defense counsel?
Answering ‘yes’ to any of these questions could mean you should have an Employment Practices Liability insurance policy in place for your business.
This coverages is not only a ‘large’ business necessity. Small businesses can face EPL related claims that can be catastrophic to maintaining your financial strength and potentially cause your small business to close.
There are several coverage options available to protect your business from employee related claims. Contact your agent at Professional Underwriters today to discuss ways to protect your business.