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I-SHOP BLOG: EPLI Facts For Small Business |
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Do You Have EPLI Coverage for Your
Business?
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EPLI - Employment Practices Liability
Insurance |
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DO YOU HAVE EPLI COVERAGE
FOR YOUR BUSINESS?
Employment Practices Liability Insurance
provides protection for an employer
against claims made by employees, former
employees, potential employees and
guests. It covers discrimination (sex,
age, disabled guests, race, etc.),
wrongful termination, sexual harassment,
refusal of service, and other
employment-related allegations.
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EPLI Facts for
Small Businesses
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Statistics confirm an employer is more
likely to have an employment claim
than a property or general liability
claim.
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The average amount paid for
out-of-court settlement is $40,000.
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Defense of the average EPLI case,
through trial, costs over $45,000.
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The medium compensatory award in EPLI
cases is $218,000.
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67% of all employment cases that
litigate, result in a judgment for the
plaintiff.
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10% of awards in cases involving
discrimination and wrongful
termination are in excess of
$1,000,000.
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Six out of ten employers have faced
employee lawsuits within the last five
years.
(Society for Human Resource Management)
41% of all EPLI claims are brought
against small employers consisting of
15 to 100 employees EEOC
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Can you imagine any of the following
situations?
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A disabled customer is unable to
access your property, files suit for
humiliation and ADA violation.
Average defense cost is $45,000 and
verdict is $30,000.
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An employee, who had a consensual
relationship with another employee,
asserts a claim for sexual harassment
when the relationship sours. Average
defense and verdict is $85,000.
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A staff member claims a guest "hit on
her" and you, as the employer, did
nothing to stop it. Average defense
cost is $25,000 and verdict
is $25,000.
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An employee asserts he or she was
discriminatorily discharged, even if
you had documented and justifiable
reasons for the termination. Average
defense cost is $55,000.
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A job applicant claims he or she was
denied a job because of legal status,
gender, race, ethnicity or
disability. Average defense cost is
$45,000.
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An injured employee, who files for
workers' compensation benefits and is
later terminated, asserts a claim for
retaliatory discharge. Average
defense and verdict is $218,000.
888.611.7467
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If you could imagine being faced with one
of these situations, then you need
Employment Practices Liability Insurance
(EPLI). EPLI is fast becoming a
critically important coverage for small
business owners to properly protect their
businesses and assets. Six out of ten
employers have faced employment lawsuits
within the past five years, with smaller
businesses least able to afford the
financial burden of litigation.
That's why The Insurance Shop is pleased
to provide a superior program for
Employment Practices Liability Insurance
that not only provides insureds with the
important protection against judgments
and for the cost of defending against
such allegations, but also provides
insureds and their staffs with the
proper training to help avoid being the
subject of litigation.
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Every type of
insurance, everywhere...
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