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Employment practices liability insurance (EPLI) provides coverage for employment loss that is caused by discrimination, wrongful termination, harassment, retaliation, unfair discipline, wrongful hiring, supervision, demotion, failure to promote, misrepresentation, defamation, libel, slander, and disparagement or invasion of privacy.

Here are the top 10 reason why you should purchase EPLI:

  1. Employment practices Liability (EPL) covers not only actual, but also alleged acts of discrimination, harassment, retaliation, wrongful termination and other similar acts.
  2. Three of five employers are sued by former employees every year.
  3. Over 40 percent of EPL claims are against firms with fewer than 100 employees.
  4. Some federal and state employment laws apply to all employers – any size company has exposure.
  5. The Equal Employment Opportunity Commission (EEOC) recorded nearly 85,000 charges in 2017 and obtained more than $398 million in settlements for claimants.
  6. The financial ramifications of not having EPL insurance can be crippling, especially for small firms because they don’t have the operating budgets to handle the defense cots, let alone settlements or judgments, of an uninsured claim.
  7. The media compensatory award to plaintiffs is $325,000.
  8. There is no EPL coverage under other insurance policies such as general liability.  Any endorsement of another policy generally provides insufficient limits, does not provide the breadth of coverage of a separate EPL policy, and erodes the limit available for the general liability exposure.
  9. Wage and hour litigation has quadrupled.  More wage and hour collective/class actions have been filed in recent years than any other types of employment class actions combined.
  10. Gender discrimination, age discrimination, and retaliation claims are on the rise.  There are more women and “baby boomers” int eh workplace than ever before.  Recent Supreme Court decisions have lowered the standard of what constitutes retaliatory treatment.

Learn more about EPLI coverage by clicking here or contacting us.

The Turner Agency, Inc. is a local Trusted Choice® independent insurance agency located in Greenville, South Carolina and in Clemson, South Carolina. Serving the Upstate of South Carolina and beyond since 1962, we offer a variety of personal and business coverage choices and can customize an insurance plan to meet your specialized needs for home, auto, business, or other insurance products.  Contact The Turner Agency today.

 The information in this article was obtained from various sources and is not all inclusive regarding the subject matter. This content is offered for educational purposes only.

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