Employment Practices (EPLI) Insurance
Employment Practices Liability Insurance (EPLI) protects businesses against employee claims relating to wrongful termination, discrimination, sexual harassment, and other employment-related issues.
What is Employment Practices (EPLI) Insurance?
Employment Practices Liability Insurance (EPLI) is a critical coverage for businesses. It provides protection against employee claims relating to their legal rights, such as allegations of wrongful termination, discrimination, sexual harassment, and other employment-related issues.
Why You Need It
To Safeguard Against Employment-Related Claims
Employee lawsuits and claims can be costly and damaging to a business’s reputation. EPLI can protect your business financially and help maintain your reputation.
To Protect the Business's Financial Health
The costs associated with defending an employment practices lawsuit can be significant. EPLI can help ensure that these costs don't impact the business's bottom line.
Mitigate Risks During Growth or Downsizing
Both growth and downsizing can lead to increased risks of employment-related claims. During periods of growth, new hires may feel they've been misrepresented in their roles or been victims of favoritism. During downsizing, laid-off employees may allege wrongful termination. EPLI provides coverage for claims arising from these scenarios, protecting the business during these periods of change.
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What Employment Practices (EPLI) Insurance Covers
Legal Fees
Covers legal costs associated with defending against employment-related claims, whether they are meritorious or not.
Wrongful Termination Claims
Protects against claims from employees alleging wrongful dismissal or termination of employment.
Discrimination Claims
Covers claims alleging discrimination based on factors such as age, sex, race, disability, etc.
Sexual Harassment Claims
Provides coverage for claims alleging sexual harassment in the workplace.
What Employment Practices (EPLI) Insurance Doesn't Cover
Bodily Injury or Property Damage
These claims are typically covered under a company's general liability policy, not its EPLI policy.
Intentional Acts or Illegal Practices
EPLI does not cover claims stemming from intentional or illegal acts by the employer.
Punitive Damages
In most cases, EPLI doesn't cover punitive damages unless they're insurable by law.
Reasons To Have Employment Practices (EPLI) Insurance Coverage
Employment Practices (EPLI) Insurance is a must have for businesses that need:
To Safeguard Against Employment-Related Claims
Employee lawsuits and claims can be costly and damaging to a business’s reputation. EPLI can protect your business financially and help maintain your reputation.
To Protect the Business's Financial Health
The costs associated with defending an employment practices lawsuit can be significant. EPLI can help ensure that these costs don't impact the business's bottom line.
Mitigate Risks During Growth or Downsizing
Both growth and downsizing can lead to increased risks of employment-related claims. During periods of growth, new hires may feel they've been misrepresented in their roles or been victims of favoritism. During downsizing, laid-off employees may allege wrongful termination. EPLI provides coverage for claims arising from these scenarios, protecting the business during these periods of change.
What Does Employment Practices (EPLI) Insurance Coverage Cost?
Costs can vary based on your location and the specific type of work you perform. Here are some examples of EPLI quotes for small businesses:
| Restaurant | Wholesale | Technology Software | |
|---|---|---|---|
| State | IL | AR | DE |
| Revenue | $1,000,000 | $17,700,000 | $6,100,000 |
| # of Employees | 10 | 80 | 14 |
| Policy Limit | $1,000,000 | $1,000,000 | $1,000,000 |
| Deductible | $10,000 | $5,000 | $5,000 |
| Cost | $3,100 | $4,200 | $1,900 |
Running a larger or more complex company comes with additional risk and increased premiums. Here are some EPLI quote examples for larger companies:
| Car Dealership | Association | Contractor | |
|---|---|---|---|
| State | CA | TX | CA |
| Revenue | $94,000,000 | $25,000,000 | $40,000,000 |
| # of Employees | 84 | 70 | 223 |
| Policy Limit | $1,000,000 | $2,000,000 | $1,000,000 |
| Deductible | $25,000 | $10,000 | $50,000 |
| Cost | $16,000 | $15,000 | $23,000 |
Frequently Asked Questions
What Our Customers Are Saying
I’ve worked with Austin at LandesBlosch. He is upfront and honest, active in the community, and helpful even beyond basic insurance. I’d recommend LB to anyone.
Colton J.
I have been with Guy Landes and the LandesBlosch agency for almost 20 years. Guy Landes and his staff have been there for me and my entire family through several claims as well as guiding us successfully to ensure our family’s ever changing and growing business. Whether you are looking for personal or commercial insurance, you cannot find a more devoted and competitively priced group than the LandesBlosch Group!
Mike S.
Buying insurance can be a daunting task because of the complexity of each policy. LandesBlosch has been a game changer for my business. They held my hand through all the different options that my businesses may or may not needs to make sure I'm not underinsured. This reduces my personal stress and my business liability.
Dalton P.
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