Consider these stats: More than one-fourth of civil lawsuits filed last year were employment related, and the average jury award in employment cases is approaching a half-million dollars.

That's why employers of all sizes are beginning to view employment practices liability insurance (EPLI) as more of a must-have. EPLI covers employment-related judgments against your company, plus the costs of defending the lawsuit.

A side benefit: EPLI can cut the potential for workplace harassment and discrimination. That's because insurers typically check for possible liability before they issue a policy. And since insurers hate risk, they'll recommend changes to reduce your lawsuit exposure.

Premium costs rising

Most EPLI policies are sold as stand-alone policies, not as add-ons to existing business policies. Several factors dictate your rates, such as your employee total, turnover ratio (especially firings and layoffs), wh...(register to read more)

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