Employment Practices Liability Insurance

If you have employees, you are exposed to potential employment liability claims. Employees know their rights, and it is time for all employers to be more informed about how to protect their companies. There are many reasons why you need to make Employment Practices Liability Insurance (EPLI) part of your commercial insurance program.

EPLI covers the company and board

An EPLI policy covers claims made against directors, officers, employees, the company, and its subsidiaries. The policy can cover a long list of claims, including wrongful dismissal/termination, sexual/racial/disability harassment, sexual/racial/disability/religious discrimination, employment-related libel, slander, defamation and invasion of privacy, wrongful failure to employ or promote, and retaliation.

Increased claims

It’s becoming harder to ignore the “me culture,” which continues to gather momentum. Small and medium-sized businesses saw the largest increase in employment practice liability claims in 2022, up 33%, according to human resources experts. The average claim cost is over $158,000 and is growing yearly.

Company reputation

A company’s reputation in the marketplace can be severely damaged by employment practice claims. The negative publicity may be followed by the potential reluctance of your clients and/or suppliers to trade with your company.

Free legal help

Most EPLI policies provide free legal resources for firms to use. You can call an attorney to help you through a tough issue.

The cost is very competitive.

EPLI premiums are not as high as you might think. Premiums can run much less than the cost of defending just one occurrence.

We can design a specialized package according to your property, liability, and casualty needs. We are also proactive in identifying any factors that may increase your premiums or change your risk and provide consulting and risk management options to protect your business. We are ready to help you better understand your risks. Please call our office today.

DSM offers commercial insurance placement and risk management solutions designed with your business in mind. We ensure that your business has the comprehensive coverage necessary to protect the property, assets, and people that matter most to you. No single agency can offer the options or blanket of services you’ll find with DSM.