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Today’s Litigious Workplace Requires Responsive Insurance

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Employment Practices Liability Insurance for Your Business

A sound HR strategy is required best practices for businesses in today’s workplace landscape where firms big and small increasingly find themselves facing allegations of discrimination, harassment, unlawful termination, wage-and-hour disputes, retaliation claims and other charges. In addition to having strong HR practices in place, you should also have the safety net of Employment Practices Liability insurance (EPLI) to cover the cost of a legal defense and settlement when a claim occurs. ISU-The Olson Duncan Agency can design a policy specifically for your operation.

Inside an EPLI Policy

EPLI provides protection for an employer against claims made by employees, former employees, or potential employees. It covers discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment, and other employment-related allegations. These types of claims are not covered under a General Liability insurance policy.

In addition, there are different types of EPLI policies available, so it’s important to be aware of the differences as the kind of EPLI policy you have will affect the scope of coverage provided. Our staff will review in detail the type of policy we recommend for your business.

Why EPLI Coverage Is So Important?

Statistics show businesses are more likely to face an employment claim than a property or general liability claim.

  • The average amount paid for out of court settlement is $40,000.
  • Defense of an average EPL case, through trial, costs over $45,000.
  • The median compensatory award for EPLI cases is $218,000.
  • 67% of all employment cases that litigate result in judgment for the plaintiff.
  • 41% of all EPLI claims are brought against small employers with 15 to 100 employees.
  • Six out of ten employers have faced employee lawsuits within the last five years.
  • 91,503 charges were filed in 2016, slightly higher than the past two years.

A Risk-Based Approach

ISU-The Olson Duncan Agency makes available to you a total HR solution. Our HR partners help you to stay up-to-date on employment law, understanding which laws (federal and state) apply to your organization, and assist with instituting policies and procedures to protect you. We will help you take the proper steps to eliminate potential claims. These steps include having clearly defined recruiting and hiring practices with thoroughly written, updated job descriptions, interview guidelines, lawful background checks, and strong company policies on discrimination and harassment outlined in a regularly reviewed employee handbook.

Our Value

At ISU-The Olson Duncan Agency, we look to provide clients with a total solution, not simply a quote or an insurance contract. Our goal is to provide real value and build a long-term relationship based on trust. This is underscored by the fact that we provide our clients with their risk management and insurance solutions, including property & casualty, employee benefits and personal insurance. To find out more about how we can help you, call us at (310) 373-6441.