Employment Practices Liability (EPLI)
Employment practices liability insurance is a form of liability insurance that covers you if your employee or former employee files a claim that alleges discrimination, wrongful termination, gender bias, or sexual harassment.
By passing legislation such as the Family Medical Leave Act and the Americans with Disabilities Act, the United States Congress has created additional grounds for employees to sue employers. O’Kane and Tegay can connect your company with employment practices liability insurance for a broad spectrum of employment-based claims. Employment Practices Liability insurance protects against losses from these types of claims, and we can help you find the most comprehensive and appropriate coverage for your needs.
In addition to the actual quantity of employment related lawsuits increasing, the potential for significant financial loss is increasing as well. Employment practices liability insurance can help cover those losses. Defending a discrimination or wrongful termination claim can be expensive, even if your company is not at fault. Your company can suffer financial loss despite the claim being fraudulent or groundless, and the potential risk for large monetary damages in an employment claim can threaten your company’s financial security. Employment practices liability insurance can protect your business against that risk.
With the rising risk of an employment claim against your company, the potential for financial devastation rises as well. Most comprehensive liability policies exclude insurance coverage for employment claims. While a directors and officers policy may offer some protection, most likely they will not extend insurance coverage to the business enterprise. This makes employment practices liability insurance crucial to protecting your company. Other forms of insurance are unlikely to protect against claims such as:
- Sexual harassment
- Wrongful termination
- Negligent hiring
- Negligent promotion
- Negligent supervision
- Negligent retention
- Statute violations
In addition, your company may face claims based on these:
- Breach of contract
- Emotional distress
- Wage and hour disputes (not available on all risks)
- Drug testing
- Invasion of privacy
- Mental anguish
Because of the rise in employment based litigation and the financial risk to our clients for employment related lawsuits, O’Kane & Tegay works with our clients to connect them with the best and most appropriate employment practices liability insurance for their needs. We have the experience and expertise to find a comprehensive employment practices liability insurance policy to reduce your exposure to claims made by your employees.
In general, large companies have substantial insurance coverage in place and are prepared to handle any type of employment lawsuit. However, a small, mid-sized or new company may be vulnerable to employment lawsuits. Frequently, these businesses lack a standard employee handbook that states the policies and procedures that steer hiring, firing and discipline practices.
Learn more about your Employment Practices Liability Insurance options.
Call now to speak with one of the friendly agents in our San Francisco office, at 415-242-8777.
We will review your current employment practices liability insurance coverage free of charge, discuss your current risks and search for the best insurance products to fit your business.
Request a Quote for employment practices liability insurance by filling out an application.