Why Your Small Business Needs Employment Practices Liability Insurance
If you are a small business owner, chances are you will face an employment claim. Having even one employee puts you at risk for being sued. Over ninety-nine thousand employment practices liability charges were filed with the EEOC in 2011, which is a record high. Over three-hundred and sixty-four million dollars was paid out in settlements in 2011, another record high. Most of these claims settled for between twenty-seven and fifty thousand dollars, amounts that will significantly impact your bottom line and could even spell disaster for your business.
A small gift and flower shop owner was sued for pregnancy and gender discrimination when the claimant alleged that the employer repeatedly treated her differently as a result of her gender and condition. The claimant provided several fellow employees who attested to the treatment by the employer.
A small retail store owner was sued for sexual harrassment when the claimant alleged that the son of the owner, also an employee, made inappropriate comments and gestures and solicited the claimant for sexual favors. A small restaurant owner let a middle-aged employee go due to performance issues. The employee sued alleging age discrimination because he was over the age of forty and many other employees still employed were younger than forty.
I'm R.J. Coleman with the Central Insurance Company Claims Department. Employment claims are a serious risk and more than half are directed at small businesses. Protect yourself and your business with Employment Practices Liability Insurance. EPLI can provide protection against lawsuits stemming from harrassment, including sexual harrassment, discrimination and wrongful termination.
Benefits of Employment Practices Liability Insurance include affordable coverage, access to an online loss prevention website, specialized claims services, and access to experienced legal representation through a legal advice helpline. Don't risk facing an employment claim on your own. Ask your agent about adding the EPLI endorsement to your business policy.
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