Protecting Your Company with Employment Practices Liability Coverage
Lawsuits filed against employers because of employment practices continue to pose a significant risk to the financial stability of small and medium-sized businesses. With employment practices liability coverage, you can ensure that your company, as well as its directors and officers, have adequate protection in the event that an employee files a claim or lawsuit against you.
Some of the claims covered by this type of policy include:
Employment discrimination
Sexual harassment
Wrongful infliction of emotional distress
Wrongful termination
Breach of employment contract
Negligent evaluation
Wrongful discipline
Denial of career advancement
Mishandling employee benefit plans
None of the above employment-related claims are covered under a company’s standard Commercial General Liability policy. Without a stand-alone policy or Directors & Officers Liability policy, your company is exposed to costly employment lawsuits arising from these claims.
Defending even frivolous lawsuits can seriously drain a small or mid-sized business’ financial resources. Although having strong employment policies, sufficient tolerance training and an experienced human resources team can go a long way in preventing employment claims and lawsuits from happening in the first place, those precautions do not a guarantee that your company will never face a suit.
The reality is that society is more litigious than it has ever been and settlements and awards are reaching record highs. Protect your profits with a policy that meets your level of risk. Talk to your insurance broker about your company’s unique challenges to determine how much coverage is best for your company.
Have any questions? We can help.
Contact us—we can help you access and use your MyMills portal and app.
Tollfree: 800-953-0999 Phone: 416-489-5570 Email: contactus@millsinsurancebrokers.ca
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