Employment Practices Liability Insurance
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Product Summary
Employment Practices Liability Insurance provides coverage for employment-related claims. The policies are written on a Claims Made basis and typically have a retention rather than a deductible.
What's Covered?
The coverage protects the employer against claims alleging violation of federal, state or local anti-discrimination laws, harassment, wrongful termination, negligent supervision or hiring, and intentional infliction of emotional distress. Many EPL policies will also provide Punitive Damages and Third Party coverages, sometimes at an additional premium.
What Isn't Covered?
An EPLI policy does not eliminate all employment-related financial concerns. Claims seeking non-monetary relief, e.g., job reinstatement, are not covered.
Optional coverages you may need
The policy will not cover the costs of accommodating any disabled person pursuant to the ADA of 1990.
What Affects the Cost of the Policy?
How to minimize your risks
How to save money on your policySeveral factors outside of an employer’s control affect the cost of EPLI, including the type of business, number of employees, and state of domicile. However, an employer can make his or her company more attractive to an underwriter by having sound risk management policies in place. The employee handbook should contain strong anti-discrimination and anti-harassment statements and there should be written procedures for the investigation and resolution of an employee’s complaint.