Employment practices liability insurance covers a wide variety of issues that employers can be faced with including things like sexual harassment, wrongful termination, discrimination, breach of employment contract, infliction of emotional stress, failure to employ, mismanagement and more. You can visit www.axisins.com for some examples of epl claims scenarios.
Legal action against companies has become commonplace in today’s world so it makes sense to pay attention to the potential legal issues that you may face. EPL insurance is there is help to cover legal fees that your company could be charged with while defending themselves against a claim. It will pay whether or not you win or lose the case.
A great way to avoid winding up in court is to make sure your company has clear cut checks and balances in place when dealing with employees. Take the time to structure policies and procedures that are in line with state and federal employment guidelines to keep you and your administration safe. Always put things in writing and cover your bases.
If you have employees then you should be in the know when it comes to employment practices liability (EPL) claims. Whether your business is large or small, you may experience epl claims at one time or another, so you need to talk to your insurance provider about your coverage options. Employment practices liability insurance premiums vary based on your company, number of employees and additional risk factors. It can be purchased as stand-alone coverage or added as an endorsement.