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What Does EPLI Cover?
EPLI policies typically cover legal costs, settlements, and judgments associated with a variety of employment-related claims. These can include:
- Discrimination based on race, sex, age, or disability
- Wrongful termination
- Sexual harassment
- Retaliation
- Other employment-related issues such as failure to promote or deprivation of career opportunity
By having EPLI coverage, you ensure that your business is equipped to handle these allegations without jeopardizing its financial stability.
Cost Considerations and Coverage Options
The cost of EPLI coverage can vary significantly based on factors such as the size of your business, the number of employees, and your claims history. On average, small businesses might pay between $800 to $3,000 annually for a policy with a $1 million limit2. However, it is crucial to browse options and compare policies to find the most comprehensive coverage at a competitive rate.