If you’re a business owner that has employees, you should strongly consider acquiring an employment practices liability insurance policy. This type of policy will offer you coverage and protection in the event that an employee files a claim or lawsuit against your company. Employee lawsuits are extraordinarily common today, and even frivolous lawsuits can cost a company thousands of dollars. Employment practices liability insurance is particularly useful if your business has many employees, regularly gets new employees in or has a management structure in which you aren’t always around to control events.

Employment practices liability insurance is extremely comprehensive. It includes charges of sexual harassment, discrimination, undue emotional duress and more. The insurance policy can cover the company’s legal fees as well as any resulting payments the company needs to make to the party claiming damages. Like other business insurance policies, the amount of coverage prudent can be determined with the aid of an agent, who will consider the company’s overall risk factors. In addition to this, companies will want to institute training for both management and staff members regarding the rights of employees and the proper reporting techniques in the event that an employee feels they have been wronged. As a business owner, you will also need to respond quickly, appropriately and effectively to even the hint of an employee lawsuit.

For more information about employee practices liability insurance, and other forms of commercial insurance, contact the insurance experts at Agape Brokers Insurance Agency.

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