What is Employment Practice Liability Insurance (EPLI) ?
Employment Practices Liability Insurance (EPLI) provides broad insurance protection from such employment-related claims and lawsuits brought against a company, its managers and employees, and its directors and officers. How It Works EPLI policies are written on a claims-made basis. That is, in order for a claim to be covered, it must be reported to the insurance company during the policy term — or within any extended reporting period granted by the insurer. In addition, the event leading to the claim must have occurred on or after the policy’s retroactive date (typically, the earliest date of continuous EPLI coverage). Some insurers offer extended retroactive dates or full prior acts coverage. You can generally purchase insurance limits of $1 million up to $25 million. Premiums depend on the type, size and risk profile of your business. A company’s employee manual and personnel policies may be considered when determining risk, especially among larger firms. Most EPLI policies include
