Business owners typically consider property, general liability and workers compensation as necessary insurance policies to protect their assets. With the incidence of employment-related claims widespread and growing, EPLI should be an important consideration.
MYTH: Our employee handbook is clear, so we don’t have to worry about an employment practices liability (EPL) claim.
FACTS: An employer with superior internal controls and procedures can still encounter lawsuits. Every business has an EPL exposure, and even frivolous claims can require a significant investment of your time and money to hire skilled legal counsel to defend your business.
MYTH: EPL claims aren’t that common, so our company is unlikely to be affected.
FACTS: An employer with superior internal controls and procedures can still encounter lawsuits. Every business has an EPL exposure, and even frivolous claims can require a significant investment of your time and money to hire skilled legal counsel to defend your business.
MYTH: EPL claims are only a concern for big companies. We are too small to have an EPL claim.
FACTS: More than 40 percent of all EPL claims are filed against private employers with less than 100 employees, and employment-related lawsuits are the fastest growing type of civil case in the U.S.
MYTH: We can’t afford this additional coverage.
FACTS: Based on these trends, a business owner can’t afford to go without this coverage. Without EPLI, a costly claim can seriously impair or permanently shut down your business.
