FEATURED PRODUCT THIS MONTH:
Employment Practices Liability
Don't let your customers have a false sense of security when relying solely on Employment
Practices Liability Insurance (EPLI) as endorsements to other policies. We may be
able to include Third Party and Full Prior Acts Coverage at very competitive rates
with higher limits and lower deductibles.
The Top Ten Reasons Why To Buy Employment Practices Liability (EPLI)
- EPLI covers not only actual but also alleged acts of discrimination, harassment,
retaliation, wrongful termination and other similar acts.
- 3 out of 5 employers are sued by former employees every year.
- Over 40% of EPLI claims are against firms with fewer than 100 employees.
- Some Federal and State employment laws apply to all employers – any size company
- The Equal Employment Opportunity Commission (EEOC) recorded nearly 76,000 charges
in 2006 and obtained more than $274 million in settlements for claimants.
- The financial ramifications of not having EPLI coverage can be crippling, especially
for small firms because they do not have the operating budgets to handle the defense
costs, let alone settlements or judgments, of an uninsured claim.
- The medium cost of an EEOC lawsuit in 2006 exceeded $200,000.
- There is no EPLI coverage under other insurance policies such as General Liability
(GL). Any endorsement to another policy generally provides insufficient limits,
does not provide the breadth of coverage of a separate EPLI policy and erodes the
limit available for the GL exposure.
- Since 1997, wage and hour litigation has tripled. More wage and hour collective/class
actions have been filed in recent years than any other types of employment class
- Gender discrimination, age discrimination and retaliation claims are on the rise.
There are more women and "baby boomers" in the workplace than ever before. Recent
Supreme Court decisions have lowered the standard of what constitutes retaliatory
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