Your small business is an exciting venture. Like any good endeavor, however, there are risks involved in doing business. Employees can get injured on the job and customers can sue for errors in paperwork, but there are a number of other conditions in which employees can file a complaint against your company.
What Is EPLI?
Employment Practices Liability Insurance (EPLI) is a policy that every business owner must consider. Today, suing has unfortunately become a way of life. Small companies are as susceptible to employee lawsuits as large corporations. Even those with well-developed employee policies and guidelines can be sued.
EPLI can protect your company from the costs, including attorney fees, and any damages incurred. Examples of EPLI coverage include:
- Workplace and sexual harassment claims – These can come from not only employees but also contractors, vendors and clients.
- Hostile work environment – Anyone who feels threatened by their boss or co-workers can sue them, and by default, your company as well.
- Discrimination – If someone believes that they have been denied employment or advancement because of their age, gender or race, they may file a complaint against your company. Employees can also sue if they feel that they have been wrongfully demoted or terminated.
Protect your company against potential lawsuits and court costs by looking into EPLI right away.