Employment practices liability insurance can help you avoid a financial setback in the case of a claim against your company.
A common misconception is that only large companies need employment practices liability insurance. The reality is that even small companies do because all it takes is one worker to say their legal rights were violated for your company to suffer a financial setback. You might already have this critical coverage if you have a business owners policy (BOP), but given the critical nature of this protection, it is well worth reaching out to us at Legacy Insurance Partners to determine if your company is covered. If our experienced team finds that you do not have employment practices liability insurance as part of your BOP, we are happy to go over how you can purchase this protection as a stand-alone coverage option.
While the potential for claims increases as your business grows, you could face a problem even if you have just one employee. In fact, an issue could even arise from someone you didn’t hire. There are so many issues that can come up even if you are as diligent as possible about your employment practices. Employment practices liability insurance is there to prevent a claim of wrongful discipline, sexual harassment, breach of employment contract, wrongful termination, failure to employ or promote, or another workplace issue claim from causing severe financial consequences to your business.
If you have questions about employment practices liability insurance, including what factors influence the cost for coverage and what costs this coverage does and does not cover, don’t hesitate to reach out to us. Reach out to the professionals at our North Wilkesboro, North Carolina office today to learn more about business insurance options available that can protect your business.
With employment practices liability insurance representatives serving the communities of Asheville, Davidson, Greensboro, Hickory, North Wilkesboro, Albemarle, and Raleigh, North Carolina, our team at Legacy Insurance Partners is available to partner as your trusted business insurance advisor utilizing a consultative approach.