North Carolina Employment Practices Liability Insurance
The Risk From Within
A business owner’s single greatest risk of lawsuits is from employees. Small and new businesses are the most vulnerable to employment claims because they usually lack a legal department or even an employee handbook. An employment lawsuit, even a frivolous one, can cost an employer tens of thousands of dollars in attorney fees. Employment practices liability insurance, also called EPLI, provides coverage to employers for claims made by employees alleging:
- Discrimination (based on sex, race, age or disability)
- Wrongful termination
- Failure to employ or promote
The Best Defense is a Good Offence
Carrying the proper amount of EPLI coverage is very important to the well-being of your business and our agents will guide you through the important factors that influence this decision. EPLI can be offered as an endorsement to a Business Owner’s Policy (BOP), a General Liability Policy (GL) or as a stand-alone policy depending on the size of the company. The cost of insuring your business for EPLI coverage depends on a variety of factors, including:
- Number of employees
- Percentage of employee turnover
- Prior lawsuits against the company
- Established practices and rules
Generally, EPLI coverage is written on a claims-made basis and the incident resulting in the claim had to occur during the coverage period. An employer might be at risk if the insurance coverage was dropped because employment claims often come months or even years after the alleged incident. Let our professional agents help you review your potential loss exposures and determine adequate coverage options for your business.
Your North Carolina EPLI Insurance Experts
First Pioneer Insurance Agency has been providing protection to North Carolina business since 1980. Our experienced agents understand the internal risks your business faces and we want to be certain your policy is providing the value you expect while maintaining excellent coverage. Be sure to contact us today to see exactly what we can do to help ensure the well being of your business with employment practices liability insurance.