Do You Need Employment Practices Liability Insurance?

Do You Need Employment Practices Liability Insurance?

Employment Practice Liability Insurance (EPLI) can help protect your company against lawsuits for harassment, discrimination, wrongful termination and other similar allegations.  Think about these 5 numbers and why you should consider purchasing EPLI for your business: 75,000, 125,000, 70, 101,500, and 89,000.   The average cost to defend your own company against an employment lawsuit is between $75,000 and $125,000. The employee wins about 70% of these cases that go to court.  In the year 2014 there were approximately 101,500 non-residential fires and 89,000 claims of employment discrimination.  The reason we bring up how many fires on non-residential buildings is this; would you ever buy a commercial building and not put insurance on the building? Probably not.  The ratio is almost 1 to 1 of fire claims vs. discrimination claims. Think about that the next time you wonder if you need Employment Practices Liability Insurance.   

            

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