A man reviews EPLI paperwork before signing

Employment Practices Liability Insurance (EPLI)

Employment Practices Liability Insurance (EPLI) is one of the most important types of coverage for your business. It protects you as the employer against lawsuits from past, present, and potential employees with coverage for a wide range of employment-related risks including wrongful termination, harassment, discrimination, retaliation, and more.

In today’s overly-litigious society, nearly 75% of all law suits against businesses are related to employment disputes. In fact, more than 40% of those are brought against private employers who have less than 100 employees (source).

If that is not enough to convince you that you need EPLI, here are 5 reasons why you shouldn’t be without it:

  1. The United States Equal Employment Opportunity Commission (EEOC) files over 90,000 employee charges annually (source), and employees win 70% of jury trials(source)
  2. Small to mid-size businesses with 15 – 250 employees face more frequent law suits than larger businesses (source)
  3. The average cost to defend and EPLI claim is $150,000 and the average settlement is $200,000 (source)
  4. In the past twenty years, employee lawsuits have risen by over 400% and continue to climb (source)
  5. Standard general liability policies do not include employee lawsuits and discrimination charges

Employment Practices Liability Insurance is necessary to protect businesses from lawsuits brought on by their employees. The most vulnerable companies are small businesses who cannot afford in-house legal support, but similarly, also cannot afford the risk of crippling law suits. Protect your business by consulting a Professional Employer Organization (PEO) who can offer the best options for EPLI and other combined benefits and services.

Call Lightsource HR for EPLI Coverage

Lightsource HR is a leading PEO provider with a dedicated team managing EPLI and other critical business tasks.

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