Over the last seven years, the number of complaints by employees against their employers arising out of discrimination, sexual harassment, and wrongful termination has exploded. Employment related charges filed with the EEOC and its state counterparts have grown at least 50% from 1989 to 1999 (150,000 annually). The number of new lawsuits filed annually has also grown and now totals in excess of 80,000.
Benefits of Insuring
Balance Sheet Protection, based on 1999 data the average EPL verdict was $415,000
Access to Loss Prevention and Best Practices Information
Protection of resources, even if a case is settled for no damages companies are still required to expend time, resources and money on defense
Coverage Features of the Employment Practices Liability Insurance Policy
Broad definition of “Who is Insured”
Duty to Defend Policy Form
Wide Range of coverage including harassment, discrimination and wrongful termination
Defense cost, settlement and punitive damages
Supplemental payments for appeal bonds, Pre-Judgment interest, Post-Judgments Interest
