Employment Practice Liability Insurance
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Employment practices liability insurance (EPLI) is a type of insurance that covers an organization against claims made by employees alleging discrimination, harassment, wrongful termination, or other employment-related issues. This insurance can help protect an organization from financial loss and legal fees associated with such claims.
What Does Employment Practice Liability Insurance Cover?
- Employment practice liability insurance (EPLI) covers a business or organization against legal claims made by employees or applicants alleging discrimination, harassment, wrongful termination, and other employment-related issues.
- This type of insurance can help protect against the costs of legal defense and settlements or judgments in employment-related lawsuits.
- EPLI may also cover claims related to breach of employment contract, wrongful failure to promote, and retaliation.
Who is covered under Employment Practice Liability Insurance?
- Employment Practice Liability Insurance typically covers the employer, officers, directors, and employees of the company.
What Activities would Create a Need for Employment Practice Liability Insurance?
- Hiring and firing employees
- Performance evaluations and disciplinary actions
- Discrimination and harassment claims
- Wage and hour disputes
- Misclassification of employees as independent contractors
- Failure to provide a safe and healthy work environment
- Retaliation against employees who report wrongdoing or violations of employment laws
- Breach of contract with employees or job applicants
- Mismanagement of employee benefits or retirement plans
- Misrepresentation of job duties or expectations during the hiring process.
What determines the price of Employment Practice Liability Insurance?
- The price of Employment Practice Liability Insurance (EPLI) is determined by a variety of factors, including
- The size and type of business, the number of employees, the industry, the company's history of employment practices claims
- The coverage limits and deductibles selected.
- Other factors that can impact the price of EPLI include the location of the business and the level of risk for employment practices claims in that area.
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At Pascal Burke Insurance Brokerage Inc. (PBIBInc), our knowledge of the products and the marketplace we serve is unparalleled. As former contractors, we know the construction industry from the ground up!