What is Employment Practices Liability Insurance (EPLI) and why should my company have it?
EPLI covers businesses against allegations by workers that their legal rights have been violated by their employers. While some insurance companies offer EPLI as a stand-alone coverage, other insurers provide this coverage as an extension of additional coverage to their Business Owners Policy (BOP). Here are some examples of the types of employee lawsuits against which EPLI protects the insured: Sexual harassment Discrimination Wrongful termination Failure to employ or promote Breach of employment contract The cost of EPLI coverage depends on your industry and the number of employees you have, in addition to risk factors such as your company’s claims history and written policies, as well as the procedures and limits of coverage requested. The policy covers legal costs, and pays damages to the injured party, if the lawsuit is favorable to the damaged party. The insured’s policy should reimburse for the costs of defending a lawsuit, regardless of whether the suit is won or lost in court.
Related Questions
- I currently have other insurance policies that are facilitated by Gevity – for example, my Employment Practices Liability Insurance (EPLI). What happens to that coverage?
- Employment Practice Liability Insurance (EPLI) - Is This Type Of Insurance Right For Your Company?
- What is Employment Practices Liability Insurance (EPLI) and why should my company have it?
