Also known as EPL or EPLI, Employment practices liability insurance is a form of liability insurance that covers you and your business if your employee or former employee files a claim that alleges discrimination (based on sex, race, age, or disability), wrongful termination, gender bias, or sexual harassment.
From the moment you interview a prospective employee, you’re are at risk of an employment discrimination claim. If you choose not to hire that specific person, that individual could allege some sort of discrimination.
Even if your company is not at fault, defending a discrimination or wrongful termination claim can be expensive. 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 help cover those losses as well.
Small or new businesses are typically the most vulnerable to these types of claims because they typically lack a sufficient legal department or employee handbook that details the policies and procedures that guide hiring, disciplining, or terminating employees.
Larger corporations are typically prepared to deal with just about any employment lawsuit.
Employment practices liability insurance protects you and your company against losses from claims of discrimination (based on sex, race, age, or disability), wrongful termination, gender bias, or sexual harassment.
Employment practices liability insurance usually reimburses you company against the costs of defending a lawsuit in court and for judgements and settlements. The policy also covers legal costs, whether your company wins or loses the suit.
O’Kane & Tegay Insurance Brokers takes the guesswork out of choosing the right employment practices liability insurance policy for your small business. We connect you to an industry specialist, which means you’ll talk to someone who spends their whole day helping organizations like yours.
Need to update your policy? No problem. Reach out to your agent at any time and enjoy the quick response you need as a 21st-century business owner, paired with service so friendly and helpful it feels like a throwback.
Our team stays up to date on the latest insurance laws and coverage changes, so you can rest easy knowing you’ll get the right coverage for the work you do.
As an insurance broker, O’Kane & Tegay’s role is to give you access to policies from the best insurance companies in the country. Whether you need employment practices liability insurance, business owners insurance, errors and omissions insurance, business income insurance, or business umbrella insurance to comply with state laws, you can find it here.
We’ve already helped hundreds of organizations protect their community. Discover why they consistently rate us 4.9 out of 5 stars.
Have questions about the pros and cons of your quotes, our experts are here through every step of the process. Making sure you get the right coverage for the best price. We help keep your business safe.
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