What is employment practice liability insurance?

Employment practice liability insurance provides protection against the risks associated with hiring, firing, and employing workers and staff.

What is covered by employment practice liability insurance?

Employment practices liability insurance (EPLI) shields your business from financial losses stemming from employee lawsuits. These lawsuits usually allege wrongful termination, discrimination, harassment, and other employment-related issues. This crucial coverage can help cover legal defense costs, settlements, and even judgments if you’re found liable.

What is not covered by employment practice liability insurance?

• Physical injury to your employees
• Intentional Actions
• Professional services or advice
• Third party accusations of employee mistreatment

EPLI protects your business from employee lawsuits, but it won’t defend you for wage and hour claims, intentional wrongdoing, or bodily injury. Consider separate coverage for these situations.

Do I need employment practices liability insurance for my small business?

Employment lawsuits can be a major financial blow to your small business. Employment Practices Liability Insurance (EPLI) actively protects you from these risks. Number of employees, collection of sensitive data, and frequent employee turnover all increase your small business’s risk of lawsuits.

How much does employment practices liability insurance cost?

A larger workforce and working in high risk industries can significantly drive up your EPLI costs. This reflects the higher risk of facing employment-related lawsuits.

Generally, Gild Insurance clients spend $83 a month on their employment practices liability insurance.

Get an employment practices liability insurance quote!

Your Gild Insurance Agent is here for you. Your Agent will make sure you get the right business insurance for your business. For a free, online quote, try out Gildber! Gildber will compare insurance providers. Offering you a fast, hassle-free option for an online business insurance quote!

For all the details, check out our Employment Practices Liability Insurance FAQs and blog, The Gildfitter.