Even if you draft airtight employment policies, an employee could sue you tomorrow ... and a jury just might believe his story. That’s why you need employment practice liability insurance. EPLI covers you against losses resulting from employee lawsuits. It’s a bargain if you are sued even once.
However, because the number of employee lawsuits is rising, premiums for EPLI coverage are rising, too. It pays to shop around.
More insurers offer EPLI today, which means a wide variety on policies and quality.
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 history of employment-related lawsuits.
Here are six questions to ask when pricing EPLI policies:
1. Does the policy cover...(register to read more)