Issue: Employment practice liability insurance (EPLI) covers you from employee lawsuit judgments.
Benefit/risk: The jump in employee lawsuits is making EPLI a nearly must-have; so premiums are rising.
Action: Shop around. More insurers offer EPLI today, which means a wide variety on policies and quality.
The risk is real: Even if you draft airtight employment policies, an employee could sue you tomorrow ... and a jury may believe his story. That's why more companies are adding employment practices liability insurance (EPLI).
EPLI covers judgments relating to sexual harassment, discrimination,and other such employee wrongdoings.
Among the factors that affect your rate: number of employees, turnover ratio (especially the number of involuntary), whether your company has an HR department and your company's history of employment-related lawsuits.
A side benefit of EPLI: It can cut the potential ...(register to read more)
- Monitor boss for retaliation after complaint
- Former employee sues? Check bankruptcy filings
- Beware justifying hiring or promotion with criteria that don't appear in job description
- Independent inquiry saves the day on supervisor harassment
- Keep the snark to yourself! If you suspect malingering, let system play out