Employment Practices Liability
Need employment practices liability? We offer competitive insurance rates on employment practices liability insurance, employment practice liability insurance and employment practice liability.
It provides protection for an employer against claims made by employees, former employees, or potential employees. It covers discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment, and other employment-related allegations. It covers your business, including its Directors and Officers.
It is needed as soon as you start to hire employees. Most investors and directors will require that you carry this coverage as part of your Directors and Officers Liability Insurance since they can also be held liable in suits relating to employment practices.
Cases against employers are on the rise. It is estimated that three out of five firms will be sued by an employee. Companies are finding that they are vulnerable from the pre-hiring process through the exit interview.
It could be an individual you had to fire or that person you chose not to hire.
New businesses are especially vulnerable because there are oftentimes no real rules or procedures set by management.
Every employer faces the reality that it will be the target of legal action from past, present and prospective employees. Even if the claim is groundless or fraudulent, the defense of a suit can be expensive in time, resources and financially.
We definitely recommend this coverage to anyone with Employees.
