Employment Practices Liability
Employment Practices Liability covers your business when it comes to legal fees if you are sued by an employee over wrongful termination, or another form of an employee rights violation.
What is Employment Practices Liability?
Employment Practices Liability covers your business when it comes to legal fees if you are sued by an employee over wrongful termination, or another form of an employee rights violation.
How much is Employment Practices Liability?
The cost can vary by state, insurance company, and the amount of coverage needed. Most important to consider (underwriters look at this, too), are your company's policy and procedures for leading employees. Your typical cost, when included in a Business Owner Policy (BOP), is $100 (subject to the insurance company's minimum premium rules). If you buy a standalone Employment Practices Liability policy with broader coverage and higher limits, the starting point typically is $500.
Do you need Employment Practices Liability?
If you have employees or hire independent contractors, you should consider this coverage. It is especially important if your business experiences high employee turnover.
Employment Practices Liability helps your business in the following ways:
Sexual Harassment and Discrimination Claims
If an employee sues your company due to an act of discrimination or sexual misconduct, you will have the support needed to hire a lawyer and cover legal fees.
Wrongful Termination
If a former employee believes they were terminated for unlawful reasons, your lawyer and legal fees can be covered. The protections around this will vary by state.
Breach of Employee Contract
If a former employee believes that their employee contract was violated, you will be covered when it comes to finding a lawyer to help look over the contract.
Property Damage
Claims of Bodily Injury
Actions that Occur Outside of the US
What doesn’t Employment Practices Liability cover?
RaisinBread helps provide you with coverage that can grow with your business.
