With the Department of Labor enforcing more than 180 federal labor and workplace laws, employment practices have always been a hot topic for companies of all sizes. But as legal requirements change, and employees become more aware of their rights, employers are facing increased risks associated with wrongful termination, discrimination, and other employment practices.
To protect your organization from employment practices claims and costly lawsuits, you must have a comprehensive employment practices liability insurance (EPLI) policy in place.
Since 1994, HCP National has been providing organizations nationwide with EPL insurance, and all other commercial lines of insurance. Get a quote now to help protect your organization against potential claims made by employees.
Employment Practices Liability Insurance (EPLI) can protect employers from claims relating to:
Employment practices liability insurance provides coverage for legal expenses, damages, settlements, and judgments related to claims made by employees, former employees, and even potential employees. Claims can also be brought by governmental agencies, and even third-parties (i.e. customers).
The scope of an EPL insurance policy may not be just the coverage itself. In some instances, insurers may offer legal, training, and other resources to help prevent potential employee claims from arising in the first place.
The financial impact of an EPL claim can be devastating. Typically, larger businesses will already have a robust EPL policy in place, but smaller businesses aren’t often as prepared.
As a whole, EPL insurance is there to protect businesses from a wide range of potential employment practices liability claims, including but not limited to:
Every business that relies on employees needs EPLI.
Although large corporations often have these types of policies cemented in place, it is especially critical for businesses that have a large workforce, and therefore higher risks of employment-related claims. Small business owners, arguably, are even more prone to the risk of employment practices liability claims, due to their limited resources and less formal human resources (HR) policies.
Of course, every insurance policy is different, and level of coverage your business needs will depend on a variety of factors:
HCP National can help you find the right EPLI coverage for your organization, at an affordable price.
To ensure a fair workplace, the federal government and individual states have put in place a variety of laws to protect employees from discrimination, harassment, and other forms of harmful or unfair employment practices. These laws include the Civil Rights Act of 1964, the Equal Pay Act of 1963, the Americans with Disabilities Act, the Age Discrimination in Employment Act of 1967, and more.
On the other hand, EPL coverage provides protection for employers against potential EPL claims related to employees’ legal rights. As stated, this coverage can provide resources for legal defense, settlements, and other costs associated with employment practices liability claims.
EPLI coverage can also provide protection for employers in the event that an employee files a Charge of Discrimination with the Equal Employment Opportunity Commission (EEOC). The EEOC enforces federal laws prohibiting employment discrimination. They also investigate claims of discrimination and may bring a lawsuit against an employer on behalf of the employee.
If you’re a business owner looking to protect your company against the vast risks of employment practices liability claims, EPLI is a wise and worthwhile investment.
HCP is one of the largest independent brokerages in the country, led and owned by a certified minority woman. We offer EPLI coverage, as well as all other lines of commercial insurance.
Our experienced team has been helping clients implement the right insurance products for their unique situations since 1994. Contact us and get a no-obligation quote today.
NOTE: THE ABOVE IS A GENERAL DISCUSSION ABOUT HOW EMPLOYMENT PRACTICES LIABILITY INSURANCE COVERAGE MAY WORK. YOUR INSURANCE POLICY, AND ALL ADDENDA, ARE THE ONLY AUTHORITY OF HOW YOUR COVERAGE WORKS. DO NOT RELY ON THIS PAGE AS AN EXPLANATION OF YOUR COVERAGE. HAVE YOUR ATTORNEY REVIEW YOUR ENTIRE POLICY WITH YOU TO DETERMINE WHAT IS AND ISN’T COVERED.
Since 1994 – HCP’s top priority is finding clients the best possible coverage and terms at the lowest possible cost. HCP is a certified diverse (MBE & WBENC) insurance brokerage.