by Allison Teetsel on Aug 28, 2015
In recent years, the number of lawsuits filed by employees against their employers has been rising. Both large corporations and small businesses are at risk. If you own a business with employees, it is vital that you have employment practices liability insurance (EPLI). Here are some of the most common questions about EPLI, and their answers.
Employment practices liability insurance is an insurance policy that can protect your business against many kinds of employee lawsuits, including claims of:
The cost of EPLI coverage depends on a number of factors such as your type of business and the number of employees you have.
An EPLI policy will reimburse or pay on behalf of your company for the costs of defending a lawsuit in court, and any judgements or settlements within your policy’s limits.
In addition to your EPLI policy, you can protect yourself from employee lawsuits by following these tips from the Insurance Information Institute:
To learn more about EPLI and other types of business insurance, contact The Reis Group today.