Employment practices liability insurance (EPLI) has grown in prevalence and complexity in the past decade. While it used to be coverage that only the larger corporates deemed a worthwhile purchase, now businesses of all sizes – including those that are small and family-owned – are seeing value in the product.
EPLI exposures are not tailored to one business sector or size. The wide array of possible employee claims (including, but not limited to: discrimination, wrongful termination, workplace and/or sexual harassment, pay disparity, breach of contract) can impact any business – and with the average cost per claim steadily increasing, it’s critical for all businesses to purchase EPLI, according to Vicky Dearing (pictured), SVP, professional liability and senior broker at Breckenridge Insurance Services.
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