How a business treats employees is absolutely important to the long-term success of the company. If a business owner does not take time to consider areas like the happiness and satisfaction of workers, he or she is likely to make bad decisions. No matter how hard you try to keep your team happy, however, there is always the chance of a former employee taking legal action after being terminated. To protect yourself, you need to consider your insurance.
What Is EPLI Coverage?
The main point to understand about employment practices liability insurance is that it exists to protect your business if a former employee raises claims about wrongful termination, sexual misconduct, and other allegations. Taking ut proper EPLI coverage for employers is the only way to ensure your organization is shielded from defamation and other possible disasters. Your plan should always have a broad definition of what type of claim falls under this category, as this can help you get more from your policy. Other options to consider include:
- Possibility of a deductible aggregate
- Individualized policies
- Contract worker coverage
Find Acceptable Insurance
The more you focus on your employment practices, the easier it will be to take out insurance that reflects the needs of your workers. Review the details and learn how to take out a policy that keeps your business safe.