Employment Practices Liability Insurance
WHY DO YOU NEED EMPLOYMENT PRACTICES LIABILITY INSURANCE?
- Current economic conditions, record unemployment, and new employment laws have triggered a marked increase in the number of lawsuits filed with the Equal Employment Opportunity Commission, Department of Labor and state agency
- Three out of five employers are sued by former employees
- 10% of claims that make it to court have a settlement of over $1,000,000
- Average defense costs during the Equal Employment Opportunity Commission investigation process alone are $15,000 and the average cost to defend beyond the investigation process is $150,000
- Over 40% of employment-related claims are brought against private employers with under 100 employees
WHAT DO YOU RECEIVE WHEN YOU AGREE TO PURCHASE EMPLOYMENT PRACTICES LIABILITY INSURANCE FROM ASSURANCE?
- Risk Management Services – Unlimited number of calls and no time limits on each call for employment practices helpline with dedicated online resource center
- Protection for claims from past, present, or potential employees for allegations of Discrimination, Harassment, Wrongful Termination, Retaliation, and other Workplace Torts