Employment Practices Liability

As a business owner, have you ever worried about potential lawsuits and claims stemming from employee accusations? The number of employee charges employers face has grown dramatically in recent years. And up until recently, liability coverage for employment practices has been expensive and typically only bought by large employers.

Many insurance companies are now offering great employer practices liability packages at an extremely low rate, tailored to meet the needs of small businesses. This coverage pays for liability and defense costs due to employment charges filed by full time, part-time, or seasonal employees.

Employment Practices Liability insurance can be added to your policy for as low as $130 per year, and the benefits don’t end with the increase in coverage. Many companies also include access to legal advice hotlines and websites to assist you with employment decisions. These provide guidance for a wide range of employment related legal inquiries, including the following:

• Whether or not an employee may have a claim against you
• Legal implications of decisions or actions you are considering
• New employment laws and how they affect you
• Hiring and firing procedures
• Discrimination or sexual harassment issues
• Performance reviews – what needs to be covered

Many also provide access to content banks that include model employee handbooks, best employment practices checklists, model application forms and other policies, and web based training modules. With many small businesses unable to hire an employee or department dedicated to human resources, these benefits can prove to be extremely valuable.

Please contact us if you have any questions regarding Employment Practices Liability!

-Jordan Buntain, CLCS