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Employment Practices Liability Insight | Also Known As ‘Wrongful Dismissal’ Insurance
While good human resources practices can go a long way to mitigate risk, research shows that 33% of employers have experienced an employment related allegation in the past 3 years. With thousands of harassment charges filed each year, the cost of resolving employment related lawsuits totals in the millions of dollars. While some suits are groundless, defending against them is costly, time-consuming and can have a long-term negative impact on employee morale as well as public reputation.
What Can Employment Practices Liability Insurance Cover?
Employment practices liability insurance or EPL coverage is specifically designed to respond to specific employment exposures, such as:
- Breach of oral or written employment contract
- Actual or alleged wrongful or constructive dismissal, discipline, discharge or termination
- Employment-related misrepresentation
- Employment-related libel, slander, humiliation, defamation or invasion of privacy
- Invasion of privacy
- Sexual harassment
- Wrongful failure to employ or promote
- Wrongful deprivation of a career opportunity, wrongful demotion or negligent evaluation
- Vicarious liability for intentional acts
- Punitive damages where insurable by law
Managing Your EPL Risks
Human resources best practices as well as well-organized and credible documentation can demonstrate fair treatment, deter litigation, ensure employee honesty, and, in the event that a lawsuit is filed, help with your organization’s defence. Together with EPL insurance, you can:
- Protect against wrongful termination, discrimination (age, sex, race, disability, etc.) or sexual harassment suits from your current, prospective or former employees
- Cover all employees of an organization including directors and officers as well as potentially extending coverage to third party liabilities
Available as a stand-alone coverage, EPL is also frequently part of either a management liability package policy or a directors and officers insurance policy.
EPL works hand-in-hand with your internal human resources practices to provide the necessary resources to defend your company against a suit or to pay a claim.
ALIGNED Employment Practices Liability Insurance | 1-866-287-0448
Our advocates can help ensure you have the right employment practices liability insurance coverage in place to defend against an employment-related lawsuit or pay a claim.