Employment Practices Liability Insurance is a form of liability insurance covering wrongful acts arising from the employment process.
Employment Practices Liability allegations are becoming commonplace in business today.
Wrongful termination, discrimination and sexual harassment are a few of the most prevalent types of EPL claims being alleged today. Most Business Owners think they are insured for this type of loss and do not understand the high cost of litigation associated with these types of claims.
• Average cost to Defend Claim is $150,000 and the average award is $250,000
• 40% of all claims are against companies with less than 100 employees
• A private company is more likely to have an EPLI claim than a property or general liability claim
• About 65% of all employers who have fired an employee have been hit with a lawsuit