Future-proof your business with comprehensive EPLI protection bundle
Future-proofing your business with comprehensive EPLI protection is not just a wise decision; it's an essential strategy to safeguard against employment-related risks, and you can explore various options to ensure you're fully covered.
Understanding EPLI: The Cornerstone of Business Protection
Employment Practices Liability Insurance (EPLI) is a critical component in the modern business landscape, offering protection against claims made by employees alleging discrimination, wrongful termination, harassment, and other employment-related issues. As businesses face an increasingly litigious environment, EPLI coverage becomes indispensable. This insurance not only covers legal costs but also settlements and judgments, providing peace of mind and financial security.
The Growing Need for EPLI
In recent years, the number of employment-related lawsuits has surged. According to the Equal Employment Opportunity Commission (EEOC), there were over 67,000 charges of workplace discrimination filed in 2020 alone1. This statistic underscores the importance of having robust EPLI coverage. Without it, businesses might face crippling legal fees and potential damages that could jeopardize their financial stability.