Employment Practices Liability Insurance For Law Firms Explained
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Employment Practices Liability Insurance For Law Firms Defined:
Employment practices liability (EPL) and employment related lawsuits are a growing concern for law firms, thousands of harassment charges are filed every year, and charges are filed and resolved totaling in the millions of dollars. Experts predict that employment practices liability will only become more complex. It is critical for law firms to understand their exposures and options for managing the risk including how EPL works.
Employment Practices Liability Risk Management
Two risk management strategies to avoid the financial impact of an employment practices liability event are
1) have strong human resources practices
2) purchase appropriate employment practices liability insurance coverage
An EPL policy is used to cover a firm’s financial risk of incurring defence costs or paying a judgment or settlement from arises due to the ever-changing legal and employment environment.
Employment Practices Liability Insurance For Law Firms Coverage Features:
• Breach of duty as an officer, director or member of the management or administrative committee
• Defence costs arising from disputes involving a partnership agreement
• Employment practices violations
• Discrimination against an employee or against any third party
• Wrongful termination or treatment of an employee including denial of a promotion, a demotion, failure to grant partnership status
• Wrongful torts including but not limited to employment related defamation, infliction of emotional distress, libel, slander and humiliation
Employment Practices Liability Insurance For Law Firms coverage is a useful risk management strategy used to defend against a suit or pay a claim. In addition to having the appropriate EPL policy and HR best practices in place to supplement the coverage, well-organized and credible documents can demonstrate fair treatment, deter litigation, ensure employee honesty, and, should litigation occur, help with an law firm’s defence.
Need Employment Practices Liability Insurance For Law Firms Explained? Contact ALIGNED’s National Errors & Omissions/Professional Liability Practice Leader & Advocate Ana Alberto directly at 1-866-964-7186 today to obtain a quotation for your firm’s employment practices liability.
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