Tom's Blog
If you are a small business owner, you run the risk of being faced with an employment claim. Simply put, this means being sued! Even if you only have one employee, that risk is still there so protecting your small business is imperative. Did you know that most settlements for these types of claims range from $27,800-$50,200? These types of payouts, inclusive of legal fees, could spell disaster for your company. Protecting your small business is not difficult with an Employment Practices Liability Insurance endorsement. What is Employment Practices Liability Insurance (EPLI) and how can it help YOU and YOUR BUSINESS?
Imagine this Happening to Your Small Business
Would your small business be able to survive if the following scenarios happened? Let’s pretend for a moment that…
You own a flower shop and are being sued for pregnancy and gender discrimination. The shopper claims that you have treated her unfairly on a regular basis because of her gender and the fact that she is pregnant. The total settlement, inclusive of legal fees, totals $40,000
You are the owner of a small, retail store and are being sued for sexual harassment. The claimant alleges that your son (also an employee) has made inappropriate and repeated sexual advances towards her and solicited her for sexual favors. This settlement, inclusive of legal fees, totals $80,000.
You are a small restaurant owner who is being sued by a middle age employee for age discrimination. This employee was “let go” due to performance issues; however is now claiming that he was the only employee over 40, while all the other employees are younger and still maintain employment. This settlement, inclusive of legal fees, totals $20,000.
All of these examples are situations that occur every single day. Would your business be able to survive that type of lawsuit or would you have to close the doors to your small business? More than half of all employment claims are directed towards small businesses. Protecting you and your small business with Employment Practices Liability Insurance is the safety net your business deserves!
Benefits of EPLI
Employment Practices Liability Insurance provides many benefits such as:
- Protection from lawsuits involving situations like harassment, discrimination and wrongful termination
- Access to online loss prevention website
- Access to specialized claims service
- Protection for your small business that is AFFORDABLE
- Access to Legal Advice Helpline for all your legal questions
Contact your local N.C. independent insurance agent TODAY to inquire about the addition of this EPLI endorsement to your existing business policy! Nothing could be more deserving!
