Employment – EPLI – Facts

Facts and Figures for Employment Practices Liability Insurance

A business is 3 times more likely to be sued by an employee than experience a fire. An insured business would never skip fire protection, so why ignore EPLI?

Small businesses are sued every day. Per the EEOC, employee charges hit a record-high level for yet another year. Roughly 30,000 of those annual charges were filed against small businesses, and that does not include state complaints or litigated claims.

Can you afford to defend yourself? Most EPL claims settle early, but the average cost to defend even nominal claims is $10,000. The costs increase for claims that go to court.

EPL claims cost an average $70,000 per one leading insurer's experience. Jury Verdict Research reports higher median settlement values of $90,000, and the numbers increase to over $300,000 for cases that reach a jury. How do these costs compare to the cost of EPLI coverage?

Business liability insurance policies do not cover EPLI. While 60% of non-buyers think that they are already protected, in reality insurers have strengthened EPL exclusions in BOP and GL policies. Could an insured be at risk by harboring this mistaken impression?

Insured businesses can actually save money using the free services with the policy. The Risk Management Website and Hotline may help a small business owner save $1,000 or more in legal costs.

Did you know that a business with even one employee can be liable under employment laws? Don't let your business become an EPLI Statistic!

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