Why should a Business purchase Employment Practices Liability Insurance?
- A private company is more likely to have an Employment Practices claim than a Liability or Property claim.
- 75% of all litigation against corporations involves employment disputes.
- 65% of employers who have fired an employee have been hit with a lawsuit
- The average cost to defend an Employment Practices claim is $150,000 and the award is $250,000
- Over 40% of Employment Practices claims are brought against companies with 100 employees
The Employment Practices Liability Insurance Product offers the following broad coverage features:
- Risk Management Services – Free Unlimited Employment Practices Consultation Helpline
- Duty to Defend Wording
- Defense Outside the Limit of Liability
- Covered acts include but are not limited to Harassment, Discrimination, Wrongful Termination, Retaliation, Failure to Promote and Negligent Supervision
- Full Prior Acts Coverage is available for acts occurring prior to the policy inception that turn into claims within the scope of coverage and are reported during the policy period
- Punitive Damages Coverage is available
- Third Party Coverage is available for Discrimination and Sexual Harassment by a insured against any non-insureds including but not limited to vendors, clients and customers
Please Note: coverages may vary according to class of risk and market conditions