Employment Practice Liability Insurance

What is employment practice liability insurance?

Employment practices liability insurance (EPLI) protects businesses from legal risks related to hiring, managing, and firing employees. Specifically, it helps cover the costs of lawsuits stemming from claims like wrongful termination, discrimination, or harassment. For any business with staff, EPLI offers essential protection against costly legal challenges.

What is covered by employment practice liability insurance?

Employment practices liability insurance (EPLI) shields your business from financial losses stemming from employee lawsuits. Generally, these lawsuits usually allege wrongful termination, discrimination, harassment, and other employment-related issues. In fact, this crucial coverage can help cover legal defense costs, settlements, and even judgments if you’re found liable.

So, what is not covered by employment practice liability insurance?

• Physical injury to your employees
• Intentional Actions
• Professional services or advice
• Third party accusations of employee mistreatment

EPLI protects your business from employee lawsuits, but it won’t defend you for wage and hour claims, intentional wrongdoing, or bodily injury. For this reason, consider separate coverage for these situations.

Do I need employment practices liability insurance for my small business?

Employment lawsuits can be a major financial blow to your small business. For this reason, employment Practices Liability Insurance (EPLI) actively protects you from these risks. Number of employees, collection of sensitive data, and frequent employee turnover all increase your small business’s risk of lawsuits.

How much does employment practices liability insurance cost?

A larger workforce and working in high risk industries can significantly drive up your EPLI costs. In particular, this reflects the higher risk of facing employment-related lawsuits.

Generally, Gild Insurance clients spend $83 a month on their employment practices liability insurance.

Get an employment practices liability insurance quote!

Your Gild Insurance Agent is here for you. In any case, we will make sure you get the right business insurance for your business. For a free, online quote, try out Gildber! Gildber will compare insurance providers. Most important, offering you a fast, hassle-free option for an online business insurance quote!

For all the details, check out our Employment Practices Liability Insurance FAQs and blog, The Gildfitter.