EPLI - What benefits does it have?

by Guest » Mon Mar 08, 2010 09:48 am
Guest

We have E&O insurance for our business, but a friend has suggested that we have Employment practices liability insurance as well. We're a bit confused!

Total Comments: 5

Posted: Tue Mar 09, 2010 07:30 am Post Subject:

It's true that E&O is often referred to as a "comprehensive business plan". Still I must say that E&O is not equipped to cover any issues that a business might come up with. EPLI on the other hand, protects your business on all quarters. Claims arising out of unjust termination or sexual harassment could be met if you have such coverage in place.

Posted: Wed Mar 10, 2010 09:20 am Post Subject:

It's not just sexual harassment, such claims are generated out of different kinds of sexual discrimination or emotional disorders. Claims may arise out of other factors as well.

In order to cover the different aspects of your business, you could merge EPLI with D&O coverage. You could have the much needed 'peace of mind', once your business is covered for the legal costs associated with all employment claims.

Posted: Thu Mar 11, 2010 07:45 am Post Subject:

Now-a-days you may achieve considerable discounts from EPLI carriers. These discounts are offered as a result of successful risk assessment strategies from such carriers. Their deductibles and premiums have fallen sharply.

Posted: Fri Mar 12, 2010 05:48 am Post Subject:

Insurance underwriters will set premiums for different companies depending on a number of factors. The number of people employed in a company as well as their volume of sales are important factors that are taken into account while determining the premium for that company.

Posted: Sat Mar 13, 2010 03:57 am Post Subject:

The number of people employed in a company as well as their volume of sales are important factors that are taken into account while determining the premium for that company.


There are other associated factors e.g. the nature of business, the rules governing the hiring and firing of employees etc. Even the overall claims record would affect the rates.

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