Employment Practices Liability Insurance (EPLI) in Connecticut
Business owners depend on their team to help the organization meet goals, but the hiring process may also open your company to potential employment-related lawsuits. Without adequate insurance, including employment practices liability coverage, allegations of harassment and discrimination can financially devastate a business.
EPLI may be essential for your company. To learn more about this coverage, contact Svendsen Insurance Agency in Woodbury, Connecticut, today.
What Is Employment Practices Liability Insurance?
Employment Practices Liability Insurance helps cover the costs of settling or defending employment-related lawsuits.
ELPI coverage is often sold with a management liability package that includes management liability, fiduciary liability and directors and officers (D&O) insurance. It’s also available as a stand-alone policy.
What Does Employment Practices Liability Insurance Cover?
Employment Practices Liability Insurance can help companies deal with a variety of claims, including allegations of:
- Age discrimination
- Wrongful termination
- Sexual harassment
- Wrongful discipline
- Wrongful failure to promote
- Violation of the Family and Medical Leave Act (FMLA)
Some common employee complaints centered around wage violations may also be covered, including:
Employment Practices Liability Insurance typically cover claims from other inappropriate employment-related workplace conduct, including defamation, negligent evaluation, invasion of privacy and deprivation of a career opportunity.
- Overtime calculation
- Job classifications
- Wage calculation
Who Should Buy Employment Practices Liability Insurance?
Any company with employees may benefit from having Employment Practices Liability Insurance. According to a recent study by Hiscox, Connecticut businesses face a statistically more significant risk of employment lawsuits than the national average. In states with a greater probability of employment lawsuits, there may also be more employment regulations, which translates to a greater risk for businesses in the area.
Manufacturing companies, restaurants and construction businesses may be considered high-risk industries due to high employee turnover rates. These organizations may be at an increased risk of employment practices lawsuits such as wrongful termination and sexual harassment.
How To Get Employment Practices Liability Insurance
Contact Svendsen Insurance Agency today to learn more about how this essential business insurance coverage can help protect your organization from the financial effects of employment-related lawsuits.