Owners like yourself understand standard insurance coverages for property damage/loss, general liability and even workers’ compensation. Insurance policies are a crucial part of a risk management approach that is essential to the short-term and long-term health of your business. Claims made against you for uncovered damages can bring your company to an end. Unfortunately, with the exception of workers’ compensation, these products don’t protect you from claims made by your workers.
As an owner or principal, you need Employment Practices Liability Insurance or EPLI to cover the risk of a claim or lawsuit brought against you by an employee. Here are some examples of EPLI claims against which a policy can protect you and your company:
- Wrongful termination
- Sexual harassment
- Hostile work environment
- Retaliation for whistleblowing or other perceived action against your company
- False representation
A judgment or settlement for an uncovered claim poses a serious risk to you and your organization’s financial health. You owe it to your company and your clients to protect yourself.
Make the Move
You should be spending your money on core business demands and tools and products that safeguard your company from major financial risks. This means being responsible and proactive in procuring EPLI plans that help shield you from potential lawsuits from your workers. Reach out to an insurer with demonstrated experience today.