The Importance of Employment Practices Liability Insurance

Today’s anti-discrimination employment laws are changing rapidly, and no matter how progressive you are, or how much you try to keep up, sometimes it can be hard to keep all the new regulations straight. Couple that with the rise in employees suing their employers for discrimination, and even small businesses could find themselves with a problem on their hands. Whether the investigation has merit or not, employment practices liability insurance from a reputable agency like Southern Oak Insurance Company can protect you and your business investment.

Employment practices liability insurance (EPLI) helps you to pay legal costs and any settlements or damages if you find yourself in the midst of a discrimination case involving race, religion or any other issue protected by anti-discrimination laws. This type of liability insurance will pay out even if you are found innocent in court, which is very important when you consider the money that defense lawyers and investigations, which aren’t covered under other commercial insurance policies, cost alone. The cost of your EPLI coverage will depend on several factors, including what type of business you run, how many employees you have and several risk factors. Providing thorough, informative and ongoing training for your managers and employees is likely to prevent any issues, but it is still important to purchase an EPLI policy like the ones available at Southern Oak Insurance Company, just in case you do find yourself in an unfortunate situation.