We have your business covered.
Employment practice liability insurance provided by Rue Insurance.
As an employer, you face a rising tide of employment practices litigation alleging discrimination, sexual harassment, retaliation, and other employment-related issues. We’ll work with you to help you assess and manage your risk proactively.
Hiring employees? This is the coverage you need.
It’s easy to feel as if employing people is a legal minefield. This is mainly because there is so much potential for lawsuits over wrongful termination, harassment, discrimination and workplace conditions.
What can an EPLI policy do for your business?
Employment practice liability insurance (or EPLI) covers the risk of having to payout such claims. EPLI policies often cover the business itself, as well as individuals like company directors. Employment practice liability insurance policies are usually written to cover cases that come out of unintentional actions (or failures to act) rather than deliberate acts of discrimination or other wrongful practice.
About Rising Costs for EPLI Coverage
By now, employment practices lawsuits should not be surprising news. Everyone has seen or been impacted by cases of discrimination, wrongful hiring/firing, retaliation, harassment, and so forth. What is surprising, is that the frequency of claims are continuing to rise. These last 12 months of furloughs, closures, and layoffs have only increased the complexity and amount of Employment Practices claims. In turn, the insurance market has responded with large premium increases for this type of insurance coverage.
Prevention Steps for Rising Costs of EPLI Coverage
The best way to prevent and prepare is to ensure strong HR policies and practices along with proper documentation. An insurance policy can provide you access to advice ahead of a claim as well as a defense in the event of one. Don’t get caught unprepared and uncovered. Work with a specialist who knows your business and how to protect it.
Get coverage that’s right for your business.
One question to ask an insurer is whether the costs of defending a claim in court count towards the payout limit for any damages. Also, look out for mention of a “claims made” basis–that’s insurance jargon that means you are only covered if the policy is active both when the alleged incident took place and when the employee makes the claim.
We can walk you through the various policies available to help determine if this type of insurance is a good fit for your business.
Here at Rue Insurance, our licensed agents are available to speak with you one-on-one, to develop a customized insurance plan that fits your unique needs. Contact us today and learn more about how to Be Ready with Rue at 609-586-7474 or on our website here.
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