Employment Practices Liability Insurance
An employee discrimination claim can happen to any business. Are you covered?
Over the past several decades employee discrimination claims have been a hot and growing issue for companies. Between 1991 when Employment Practices Liability (EPL) was first offered and 1994 employment discrimination filings grew over 2,000 percent. Yet, even in today's highly litigious world the majority of small to mid-size businesses don't carry EPL insurance that could protect them from employee discrimination claims. A few choose not to, but most, as some recent survey's have discovered, think there standard general liability, or BOP policy contains coverage protecting them from discrimination claims. This is an alarming finding, as it only takes one discrimination claim, whether founded or not, to financially devastate a company. And if you're one of the thousands of small businesses owners that has a personal financial stake in the company you could be risking more than most.