Employment Practices Liability Insurance – Five scary EPL facts
Employment Practices Liability Insurance – Five scary EPL facts
At our website www.oneminutefromnormal.com we ask visitors the question: What if an unscheduled event suddenly seizes control of your business? Are you ready?
Virtually every firm faces an exposure to employment related claims. Following are a few data points measuring your company’s risk:
More than 450 employment-related lawsuits are filed in the United States every day, according to USA Today.
- Former employees sue three out of five companies every year, according to the Society for Human Resource Management.
- Close to 100,000 discrimination claims were filed in 2012, according to the Equal Employment Opportunity Commission.
- The median employment practices award was approximately $200,000 during the past ten years, according to Jury Verdict Research. 8% of these verdicts hit $1 million.
- Defense costs associated with a case going to trial start at $50,000 and can eventually exceed $200,000 if the claim goes to verdict.
A stand-alone EPL policy provides the broadest possible protection to your firm. While EPL coverage is also available as an endorsement to other kinds of policies, the scope of coverage is more comprehensive under stand-alone forms.
Through a partnership between Central Bucks Mobilepack and Feed My Starving Children (FMSC), Kevin McPoyle, President of KMRD, is organizing volunteers who will prepare 336,000 life-saving meals at an FMSC MobilePackTM event on September 25-27, 2015 at Delaware Valley University, 700 East Butler Avenue Doylestown, PA 18901. Please contact Kevin at (215) 802-0595 or kmmcpoyle@gmail.com to volunteer for this event.
To identify and correct coverage and service gaps in your insurance coverage contact us at contactus@kmrdpartners.com before one minute from normal strikes.
Need to deliver better risk management results for your company? Schedule a brief demo of our unique collaborative risk management system, KMRD XChange.
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