Employment Practices Liability Insurance
In this treacherous business climate, Employment Practices Liability Insurance (EPLI) is a must. EPLI provides coverage, including cost of defense, for discrimination and harassment actions and other state and federal employment-related claims.
Statistics show businesses are more likely to face an employment claim than a property or general liability claim. Once these claims manifest, they become an extensive drain on a business's assets. Out-of-court settlements in employments cases average $40,000. The median compensatory award is $218,000, with 10% of wrongful termination claims resulting in awards in excess of $1,000,000. The average cost of defense is in excess of $45,000. Many employers believe their general liability or workers' compensation policies protect them in these situations, the truth is, these policies do not.
Contact your AMC underwriter or marketing representative today for more information on how to fully protect your business client.
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