Employment Practices Liability Insurance (EPLI) provides a defense against employment violations committed by employers and/or their employees, including sexual harassment, discrimination, and wrongful termination. It’s important for business owners to know that EPLI is available, affordable, and a policy that costs less than a legal defense.
Some employers do resent having to pay for this type of policy, however, in the long run, having this policy can save business owners money as cases that stem from not having an EPLI policy can be expensive to defend even if a company has excellent documentation.
How can a sexual harassment charge highly impact a business owner’s bank account drastically? According to an article on HR Morning, “What will that next discrimination charge cost you?”, the average EPLI lawsuit costs $125,000 once a settlement is reached. The median judgement against an employer is $200,000. Expensive? Protect your business by getting the right coverage for your business needs.
To learn more about EPLI and how ProAction Insurance can assist you in finding the right policy for your business, give us a call today at (951) 898-9892.