Why is Employment Liability Insurance Important?

June 11, 2013

9022241_xxl

Whether you are a large or small business you know the employer – employee relationship has changed. In today’s world, employers can no longer assume all employment relationships will go smoothly. Finding a suitable Employment Practices Liability Insurance (EPLI) program has become one of the single most important things owners and managers can do. We can design products to protect clients against breach of employment contracts, discrimination, wrongful termination and sexual or other harassment issues.

Reasons To Have EPLI Coverage From Safe Harbor Insurance

  • General liability policies don’t cover this exposure
  • Over 60% of claims come from former employees
  • The average cost to defend an EPLI claim is $150,000
  • 47% of jury awards are between $100,000 and $500,000
  • The Equal Employment Opportunity Commission recorded over 94,000 complaints in 2010
  • Claims can come from vendors and even clients
  • Coverage is very affordable and easy to obtain

Most EPLI policies provide free legal resources for firms to use. You can call an attorney to help you through a tough issue. In most cases we are able to provide a premium indication in less than one day. Call Safe Harbor Insurance Agency today for more information.