Why Texas Business Owners Should Have EPLI Coverage

Why do you need Employment Practices Liability Insurance (EPLI)? Three out of five employers are sued by former employees every year; the average cost to defend an Employment Practices claim is approximately $150,000 not including any settlements or judgments awarded by the court. As a Texas business owner and especially in today’s tough economic environment, you need to protect your company and assets from the unexpected. Insurance is a great way to add protection, but not all insurance policies are written the same. This is one of the many reasons why choosing a trusted Texas business insurance specialist is one of the most important decisions you will make as a business owner.

Insurance is constantly evolving in order to keep up with technology advancements, cultural and historical changes, and an ever growing litigious society.  The exposures which are protected by EPLI coverage are not under your standard General Liability policy. Employment Practices Liability Insurance can cover a variety of exposures, depending on the insurance carrier and the options you choose.

EPLI coverage protects you, the employer, against claims made by your current, former, and even potential employees. It covers discrimination by age, sex, race, disability, wrongful termination of employment, harassment, and other employment–related allegations, none of which are covered under a General Liability insurance policy.

Employment Practices Liability Insurance covers the cost associated with defending you against these types of claims and any settlements or judgments that result. Some insurance carriers offer options to extend coverage to claims of discrimination and harassment made by third parties such as your customers or vendors. Many carriers even offer free access to Human Resource Specialists to help guide you step-by-step in protecting yourself against potential claims.

EPLI coverage safeguards not only your business, but your family’s livelihood. Now that you’re familiar with EPLI, can you afford not to have this insurance coverage for your business? Employment Practices Liability Insurance affords you peace of mind in knowing that your business is protected.

For more information on protecting your business with proper insurance coverage, call Dagley Insurance – your trusted Texas business insurance specialist – or fill out the EPLI Quote Form to receive an EPLI quote today.

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