When it comes to protecting your business from legal actions brought by employees or volunteers, employment practices liability insurance (EPLI) is an absolute must-have. As a business owner, you already have enough on your plate without having to worry about the financial burden of defense costs and monetary damages. That’s where EPLI comes in.
EPLI policies provide comprehensive coverage for a wide range of legal expenses. This includes representation fees, settlement costs, and other administrative expenses related to litigation. But it’s important to note that EPLI does not cover criminal charges, damage to property or individuals, or unpaid wages that have been deliberately withheld.
However, the true value of EPLI lies in the peace of mind it provides. With an EPLI policy in place, you can rest easy knowing that your business is protected against the potential financial ruin of an employee or volunteer lawsuit.
And the best part is that EPLI is not just for big businesses. Every business, regardless of size, can benefit from this type of insurance. So, whether you’re a small startup or a large corporation, don’t leave your business exposed to the potential risks of employee or volunteer lawsuits. Invest in EPLI today and secure the future of your business.
An EPLI policy would likely protect your business from situations including:
- An employee files a sexual harassment case.
- A gig worker or a freelancer claims they are being discriminated against.
- An ex-employee believes they have been fired for the wrong reasons.