Small Business Employment Practices Liability (EPL)

Small Business Employment Practices Liability (EPL)

Small Business Employment Practices Liability Insight | Aka Wrongful Dismissal Insurance

In recent years, 1/3rd of employers have experienced an employment related allegation according to research. Human resources best practices are an important way to mitigate risk. However, thousands of harassment charges are filed each year and the cost of resolving employment related lawsuits total in the millions. While some suits are groundless, the time and cost of defence are just the tip of the iceberg. A single suit can have a lasting negative impact on employee morale as well as the public reputation of any small business. This is why getting liability insurance for small business is an essential risk management tool.

What Will Small Business Employment Practices Liability Insurance Cover?

Small business employment practices liability insurance or EPL coverage can be specifically designed to respond your unique employment exposures, such as:

  1. Actual or alleged wrongful or constructive dismissal, discipline, discharge or termination
  2. Breach of oral or written employment contract
  3. Discrimination
  4. Defamation
  5. Employment-related misrepresentation, libel, slander, humiliation, defamation or invasion of privacy
  6. Invasion of privacy
  7. Sexual harassment
  8. Wrongful deprivation of a career opportunity, wrongful demotion or negligent evaluation
  9. Vicarious liability for intentional acts
  10. Punitive damages where insurable by law

How To Manage EPL Risks For A Small Business

EPL or employment practices liability insurance is also frequently part of either a management liability package policy or a directors and officers insurance policy. EPL is available as a stand-alone coverage.

Employment practice liability works hand-in-hand with your human resources practices to provide the necessary resources to defend your small business against a suit or to pay a claim.

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