Here are the TOP Six reasons why all companies need EPLI:
1. Over 39% of claims are brought against companies with under 100 employees.
2. A small privately held company is more likely to have an EPLI claim than a General Liability or Property Damage claim.
3. 65% of employers who have fired an employee have been hit with a lawsuit.
4. Almost 75% of all litigation against employers involves employment disputes.
5. The average cost to defend an employment claim is $150,000 and the median award is $250,000.
6. The EEOC reported a 15.2% increase in claims for the 2008 fiscal year that ended September 30, 2008, as compared to the previous fiscal year.
Sometimes, despite your best efforts, employers can find themselves facing allegations for employment law violations. Even if vindicated, you, the employer must incur the cost of legal defense. If you haven't done so, make sure to discuss this program and request a quotation with your account manager. If you are not yet a client and want more information please call me at 949-582-5220 x 3802, or email me at Larry@spib.com.
P.S. Be sure to request your Special Consumer Report that goes into more detail on Employment Practices Liability Insurance. Don't get left behind the eight ball, contact us TODAY!
