Have Employees? You are not Immune to Employment Practices Lawsuits
July 12 2022
"Because Nobody's Perfect" Education Series - Part 2: Employment Practices Liability
Disgruntled employees are like fireworks waiting to explode, posing a risk to your business reputation and bank account. Even if you do your best to provide a safe working environment that treats every employee equally, the day may come where a serious accusation is made by an employee. Managing employees carries risk. Behind every employment decision is a potential lawsuit that can disrupt business, hurt employee morale, damage reputations, and create financial chaos. As a business owner, you can insure your company with Employment Practices Liability Insurance (EPLI), a type of liability insurance covering wrongful acts arising from the employment process typically not covered by a commercial general liability policy. EPLI provides protection to defend a business against accusations, claims, and lawsuits, as illustrated below:
Organizations of every size and industry benefit from EPLI coverage. Even the most conscientious business owners can find themselves in a situation where EPLI will provide financial protection to deal with legal charges and to help the business survive.
If you have employees you have risk, when was the last time you evaluated your hiring, firing, and employee evaluation processes?
Don’t let a disgruntled employee ruin your business brand, reputation, and finances. Don’t think it can’t happen to you.
What should you do? Contact #TeamKoppinger for solutions.