Employment Practices Liability

Employment Practices Liability in Botsford, CT

Once you interview a potential employee, you run the risk of facing an employment claim. This could come from various angles. For instance, the interviewee may allege discrimination as the reason you did not hire them. Alternatively, you could hire them then face a wrongful termination claim in Botsford, CT if you later fire them. There is a host of other claims that employees can make in addition to these ranging from harassment, emotional distress, retaliation claims, and breach of contract. 

It is, therefore, a smart idea for any employer or company to get employment practices liability insurance (EPLI) in Botsford, CT. This way, you can have coverage against these claims that will cover the cost of litigation as well as provide indemnification for you as the employer should verdict favor the employees or if the case is settled. However, criminal fines, civil penalties, and punitive damages are not covered in the EPLI policy.

Employment Practices Liability Botsford, CT

Botsford, CT Employment Practices Liability Insurance Cost

The cost of coverage for employment practices liability in Botsford, CT is determined by several factors including:

  • Number of employees
  • Location of the business/company
  • Prior suits (or lack thereof)
  • Employee turnover percentage
  • Established workplace rules and practice

At Berliner-Gelfand, we take all these factors into consideration to develop the best EPLI policy for your company in Botsford, CT at the best possible premiums.

Botsford, CT Employment Practices Liability Insurance Cost

Types of EPLI Policies in Botsford, CT

There are two types of employment practices liability insurance policies available which include Occurrence Policy and Claims Made Policy:

  1. Occurrence Policy - which obligates the insurance company to make payments for claims made during the policy period. You will be covered for any incidences occurring as long as the policy is in force regardless of when the claim is reported.
  2. Claims Made Policy - which insures against claims made while the policy is in force. Sometimes this policy comes with a prior acts coverage where incidences that occurred immediately before the current policy are covered within as long as there were similar claims made policy in play at the time.
Types of EPLI Policies Botsford, CT

Employment Practices Liability Claims in Botsford, CT

Even with excellent coverage, no one wants to be constantly tied up in courtrooms or settlement hearings with one employee after another. There are ways in which you can lower your employment practices liability risk in Botsford, CT and possibly your insurance premiums in the process.

  • Develop a handbook explaining policies and procedures for disciplinary action against employees as well as termination procedures. Make sure that all your employees have read it and signed a statement affirming that.
  • Establish a zero tolerance policy on any kind of discrimination and develop an open door policy where employees can freely report instances of discrimination without fear of retribution.
  • Create clear job descriptions for each role in your business or company.
  • Conduct regular performance reviews and note the results in each employee’s file.
  • Conduct background checks of all potential employees and steer clear of workers with substance abuse and alcohol abuse histories.
  • Document every issue arising with each employee and how the company resolved the matter.

If you are an employer, you need this EPLI coverage in Botsford, CT for your protection. Contact our experienced insurance agency for more information on employment practices liability insurance in Botsford, CT.

Employment Practices Liability Claims Botsford, CT