Employment Practices Liability Insurance – is it Important?
Well, the likelihood of being sued by an employee is now three times greater than experiencing a fire loss. In just 2014, the Equal Employment Opportunity Commission received nearly 90,000 discrimination charges that year. 65% of these claims were groundless, but those employers still had to shovel out costs of investigating and defending against them. Along with claims from employees, many service-oriented businesses are susceptible to discrimination claims from third parties. Some think that their General Liability and Business Owners Policies (GL & BOP) will cover such claims, but they often do not. EPLI is becoming more and more important, be sure to talk with your business broker about it and consider getting quotes.
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