If you are a business owner, and you have employees, you should consider purchasing Employment Practices Liability coverage.
Employment Practices Liability responds to claims of discrimination, sexual harassment, and wrongful termination by your employees. The insurance policy provides coverage for defense costs and judgements against you. If you have a General Liability policy, this coverage is not included and it must be purchased separately.
For an Employment Practices Liability quote, the insurance carrier will ask you to complete an application. The application will ask basic information about your company, for the number of employees, your turnover, and your human resource practices. Typically, the cost for $1,000,000 in coverage runs between $1,000 and $5,000 per year. The premium cost depends on the size of your company.
We strongly recommend this coverage for all of our business owners. Please give us a call or visit us at http://www.1stins.com/ to request a quote.
