Employment Practices Liability Insurance in Albany, Schenectady, Saratoga, Troy, NY and beyond
As an employer, you are beholden to many laws and regulations that require you to treat your employees fairly and ethically. However, even the most attentive and sensitive workplaces may eventually face accusations of improper workplace behavior. Employment practices liability lawsuits may be filed by former, current or prospective employees. Such claims may lead to high legal costs, financial consequences and reputational harm. With that in mind, employers must understand the potential benefits of employment practices liability insurance (EPLI).
Employment Practices Liability Insurance Quote Forms
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What Is EPLI?
As its name suggests, an adequate EPLI policy can provide critical financial assistance in response to accusations of wrongful behavior or practices in your workplace. Even if a lawsuit is based on false allegations, the cost of responding to these claims can be significant and may have lasting financial implications for your business’s stability and future. Fortunately, EPLI coverage can insulate your organization from such losses by providing funds to help pay for the following:
- Legal representation
- Court-ordered judgments
Why Do I Need EPLI?
Employers of all sizes and across all industries must account for employment practices liability risks. These accusations can cause significant reputational and financial harm. If the general public learns that your business has been accused of improper treatment of employees, it may push customers to consider competitors, deter business-to-business relationships and make those searching for jobs become hesitant. The financial assistance provided by EPLI may be integral in your organization clearing its name and minimizing losses.
What Does EPLI Cover?
Lawsuits involving improper workplace practices can arise from many accusations. Your EPLI policy may be able to render financial assistance in response to the following allegations:
- Sexual harassment
- Discrimination (e.g., age, race, gender)
- Wrongful termination
- Failure to promote
- Improper hiring practices
- Wrongful discipline
- Mismanagement of employee benefits
- Negligent evaluation
- Invasion of privacy
Get the Right Coverage
The Ten Eyck Group has a history of serving individuals, families and businesses dating back over 100 years. Our agents are well-equipped with the knowledge and experience to analyze your insurance needs. We will work with you to explore your best options and ensure that your policies can protect your finances and future. Contact us today to get started.