In today’s society it is very important to have insurance for claims that arise out of human resource issues – that’s where employment practices liability insurance comes in.
Check this out: The average cost of a discrimination claim is $125,000, and 25 percent of judgments exceed $500,000. While many claims are groundless, defending them can be very costly and time consuming.
If you carry Employment Practices Liability Insurance, or EPLI, you have protection for lawsuits from current, prospective or former employees that claim you have discriminated or harassed them. Things like sexual harassment, wrongful termination or discrimination are potentially covered by EPLI.
The hidden danger in your EPLI policy is what happens if you are sued by a customer, vendor, or supplier? Are you covered?
The answer might surprise you. If you have a standard EPLI policy, you are most likely not covered. Most EPLI policies only cover you for claims from current, prospective or former employees. Most commercial general liability policies exclude harassment and discrimination.
So, what is the solution? Third Party EPLI Coverage!
Third party EPLI can be endorsed to most EPLI policies at a minimal cost. An endorsed EPLI will now pay for claims for customers, vendors, or third parties that bring lawsuits alleging discrimination or harassment. Make sure your trusted advisor is recommending third party coverage when purchasing EPLI Insurance.
Learn more about EPLI Insurance here!
Did you know that we have a team of commercial insurance experts ready to help you navigate your policies? They can make sure that your business is properly protected – and maybe even save you some money too! Learn more here.
A little more about Blue Marsh Insurance…
When he founded Blue Marsh, Tom Davenport wanted to create a different kind of insurance company. One that’s built on personal relationships and a local presence. One where you, the customer, feel more like a friend.
As an independent insurance agency, Blue Marsh Insurance represents a carefully selected group of financially strong, reputable insurance companies. Therefore, we are able to offer you the best coverage at the most competitive price.
If you’re interested in starting a quote online or having us take a look at your current policies, click here!