Even though you are an honest and fair employer, one accusation of unfair employment practices could cost you thousands of dollars. Charges ranging from age or sex discrimination to wrongful termination, even unfounded charges, can hurt or destroy a business.
Allegations against employers are occurring at an alarming rate. Laws like the Americans with Disabilities Act, the Civil Rights Act of 1991, the Family & Medical Leave Act, and the Age Discrimination in Employment Act have increased financial risk for most businesses. Employment laws and regulations are complex. Your directors, managers, supervisors and employees may not fully understand the ins and outs of these laws and may be unaware of new rulings and interpretations.
While million-dollar jury awards against large corporations make the headlines, thousands of other small and medium size businesses are also experiencing difficult times. Answering a groundless complaint filed with the Equal Employment Opportunities Commission can cost $7,500 to $15,000. The average defense attorney fees for unsuccessfully defending against sexual harassment charges are over $150,000.
Until recently, only large businesses were able to affordably insure against the risk of employment practices claims. Now employers of all sizes can insure against this risk, with Employment Practices Liability Insurance (EPLI).
Our broad definition of "claim" means that EPLI can provide coverage to your business when current employment statutes change or when new federal, state or local laws are enacted.
EPLI provides coverage and defense costs under the terms of your policy as soon as an administrative charge or a lawsuit is filed against you by any past, present or prospective employee.
This coverage protects your business (and your employees) from charges that an employee's rights were violated. From the moment you consider hiring an applicant, during active employment and even when you provide references for a former employee, EPLI covers charges you may be vulnerable to:
When you own a policy from Wagner Insurance you get a hotline for human resources - free! Human Resources services are provided through PeopleSystems. Representatives are available to speak with you from 8 a.m. - 7:30 p.m. EST when you call 1-877-655-3566.
Topics may include (but are not limited to):
PeopleSystems also offers access to an online library of HR information where you can submit e-mail inquiries, access a New Hire Service Pack guide, sample interview questions and much more!