Employment Practices Liability insurance (EPLI) is designed to protect businesses from the costs of defending against and settling employment-related lawsuits.
Benefits of Employment Practices Liability insurance
There are two key reasons why businesses may want to consider carrying Employment Practices Liability insurance.
First, the number of employment-related lawsuits is on the rise. According to the National Employment Lawyers Association, the number of employment-related lawsuits filed have increased by more than 50% year-over-year through the last decade.
Second, the cost of defending against and settling employment-related lawsuits can be significant. Businesses that are sued can face not only the cost of defending the lawsuit, but also the cost of any damages that are awarded to the plaintiff.
Employment Practices Liability insurance can help businesses protect themselves from these costs. The insurance policy will provide coverage for the costs of defending against and settling employment-related lawsuits. This can help businesses avoid financial hardship in the event that they are sued.
Employment Practices Liability insurance is a wise investment for businesses of all sizes, and especially businesses with a significant number of employees.
More About EPLI
To understand more about the protection an EPLI policy can offer your enterprise, our team is ready to field your questions. All consultations are free of charge, so contact us directly using the number above or the link below to get started.
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