Employment Practice Liability
Every firm, no matter how effective its employment practices and procedures, is still vulnerable to employment-related liabilities. Businesses are quickly learning that merely complying with employment laws or allocating resources to employee training does not abolish financial risk.
In the last few years, the number of employees alleging discrimination, wrongful termination, sexual harassment and/or retaliation has increased dramatically. Employment-related cases have become commonplace in the U.S and affect all industries. As companies have expanded workforce diversity more issues have arisen. Unfortunately, multi-million dollar employee-related claims against corporations are on the rise, as well as their attendant settlements and judgments. Settlements and judgments in these suits have also increased significantly.
Employment Practice Liability insurance protects the corporation against a wide range of employment-related suits including gender, age and race discrimination, retaliation and sexual harassment cases.