Are Hidden EPLI Claim Secrets Costing Your Firm Millions?
Are hidden Employment Practices Liability Insurance (EPLI) claim secrets quietly draining your firm's resources, costing you millions in preventable expenses? Discover how understanding these insights can safeguard your business and boost your financial security, while you browse options to protect your interests.
Understanding EPLI and Its Importance
Employment Practices Liability Insurance (EPLI) is a crucial safeguard for businesses, protecting them against claims made by employees alleging discrimination, wrongful termination, harassment, and other employment-related issues. As the workplace becomes more complex, the potential for such claims increases, making EPLI a necessary shield for firms of all sizes. Without it, businesses are vulnerable to costly legal battles that can severely impact their financial health.
Common EPLI Claim Triggers
The most frequent triggers for EPLI claims include allegations of discrimination based on race, gender, age, or disability, as well as claims of sexual harassment and wrongful termination. According to the Equal Employment Opportunity Commission (EEOC), retaliation claims have been the most frequently filed charge in recent years1. These claims can lead to significant legal fees and settlements, often reaching hundreds of thousands of dollars.