As a business owner, you have many considerations to make when it comes to your employees. There are things like providing them with benefits and giving them raises that need to be considered. But there is one thing that you absolutely must do to avoid an expensive lawsuit: purchase employment practice liability insurance coverage (EPLI). In this blog post, we will discuss why EPLI is so important for businesses of all sizes.
–EPLI will cover you for any mistakes that are made in the course of your employment practices. This includes discrimination, sexual harassment, wrongful termination and more.
-It also covers lawsuits brought on by employees who break company policy or injure themselves while working at your business. For example, if someone is injured on a job site because they didn’t have proper safety equipment, EPLI would provide coverage, so you aren’t left footing the bill to help them with their recovery process.
EPLI Purchased as Individual Plan or Part of Package
-EPLI can be bought as an individual plan or through employer group plans from companies like Travelers Insurance Company and many others. The cost varies depending on how much coverage you need but it’s often affordable enough to make sense considering the benefits it provides.
EPLI Peace of Mind
-There are many reasons to buy Employment Practice Liability Insurance Coverage but the most important one is that you’ll sleep better at night knowing your business and employees are protected if a lawsuit arises from an employment issue.
I recommend purchasing EPLI for every business owner because it offers protection against lawsuits stemming from any number of different employment issues including discrimination, sexual harassment, wrongful termination and more. EPLI also covers lawsuits brought on by employees who break company policy or injure themselves while working at your business….
In addition to these specific protections offered by EPLI policies, they will also provide the business with some coverage against lawsuits stemming from any number of different employment issues including discrimination, sexual harassment, wrongful termination and more.
EPLI for Small and Medium Size Businesses
– Employment practice liability insurance (EPLI) is an essential for small to medium sized businesses because it can protect them both financially and legally if they are on trial because of something their staff has done wrong.
– EPLI policies typically offer benefits and medical care to cover injuries incurred during work hours and may even include certain types of disability insurance if an employee is unable to return to their job after being injured which means great protection for employees who have been hurt while at work or those that were suddenly terminated without warning.
– EPLI policies typically offer benefits and medical care to cover injuries incurred during work hours and may even include disability insurance if an employee is unable to return to their job.
– Employees who were terminated without warning are also protected because the policy will help them find a new position quickly by providing adequate financial support for when they can’t work – including paying bills, finding housing, or assisting the individual in obtaining vocational training that will be needed after leaving employment.
Coverage for Terminated Employees
– EPLI coverage also covers the company itself from lawsuits and claims filed by employees who have been terminated or injured while at work – so it is both affordable and worth every penny.
Employers need to purchase employment practice liability insurance coverage (EPLI) because of how important this kind of protection can be for their workers. Workers may return to their job after being hurt which means great protection for employees that were suddenly terminated without warning; in other words, those individuals are still protected with a policy once they’ve left employment if an injury was incurred during work hours as well as disability benefits if they cannot go back to their position
If you are wondering about EPLI insurance coverage, don’t worry! Our quoting hours are Monday through Friday from 8:30 AM to 5:00 PM. You can also request a quote online and we will take care of the rest while you save money on your premiums with our We Handle All the Work policy!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.