The employer/employee relationship is a cornerstone of any business. Finding, training and retaining good employees is critical to the success of any business and when this relationship works it can result in years or even decades of productivity for everyone involved. But what happens when it doesn’t go well? What happens when things go wrong? What happens when an employee accuses an employer of sexual harassment, discrimination,failure to promote or fostering a hostile work environment?
Most people don’t want to think about these scenarios, but in reality business owners are statistically more likely to be sued by an employee than any other type of person (vendor, customer, supplier,etc.). High legal costs, lost time and the fact that the court of public opinion often finds the company guilty before a court of law can even issue a ruling contribute to the high overall costs of dealing with claims of company misconduct from an employee.
Employment Practices Liability Insurance (EPLI) is here to help. As a business owner you need the piece of mind that comes with knowing you are covered should there be a bump in the road with an employee that lands in a court of law. EPLI insurance is a way to make sure your business is prepared to deal with the legal ramifications of a lawsuit from a current or former employee.
- Discrimination (based on age, sex, race or disability)
- Wrongful Termination
- Various Other Employment-Related Issues
Most large companies have expansive human resource and legal departments prepared to deal with almost any claim that can end up in a courtroom. Small businesses, start-ups and rapidly expanding companies should look to EPLI policies to protect themselves should an employee find them at fault in any of the above situations.
To put it simply, if you have employees you need an EPLI policy to cover your legal expenses should an issue with an employee arise. Without this protection your company is left open to massive legal expenses, lost productivity as the company has to divert attention from its’ core business to the lawsuit, diminished company morale as the company is exposed as unprepared and the negative effect these situations have on the reputation of the business in the overall community.
Aaron Levine and Luxury Insurance Group have extensive experience providing Employment Practice Liability Insurance to companies of all sizes throughout New Jersey. Schedule an appointment today to see how they can make sure your organization is protected.
Different types of businesses are at different types of risk. Hospitality, construction, professional offices are all at high risk for EPLI. When we’re talking EPLI we’re talking employee related concerns or ADA disability related concerns for property owners for landlords, two different types of concerns related to some type of discrimination complaint or lawsuit from the EEOC.
Any business that has any number of employees should have some coverage in place to protect themselves from applicants and from their own employees. As a business grows, so does the risk and are not as protected from different lawsuits. Fill out this form to learn how to better protect your business.
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Contact us today and we’ll customize a business interruption insurance policy for your needs. Please call us at (877) 288-7169. We look forward to speaking with you soon.