8 Point Checklist: Is My Employment Practices Liability Insurance (EPLI) Adequate?

Comparing EPLI coverage is very difficult because the difference between one company's EPLI policy and another can be as different as night and day. That doesn't matter whether your EPLI policy is attached through a Business Owners Policy, a General Liability Policy, or stand alone EPLI coverage.
       The fact is, many EPLI policies are inadequate both in terms of what is/isn't covered and the levels of coverage offered. So..... I have made a short checklist of 8 key things to look for in an a quality EPLI policy:

1. Limits of Liability Available up to $2,000,000. Some companies do not offer anywhere near this level of coverage.
2. Defense Outside Limits Option- Defense costs will not erode the limit of liability, if this option is selected.
3. Third-party Coverage - Coverage for claims brought by customers and clients alleging discrimination or harassment by the insured.
4. Fair Labor Standards Act (FLSA) Coverage - $100,000 sub-limit of liability for defense costs arising from Fair Labor Standards Act
5. Duty-to-Defend Provision - Defense of any covered claim, even if allegations are found to be groundless, false or fraudulent.
6. Broad Definition of Employee - Coverage for claims brought by current,former and future employees includes applicants and volunteers.
7. Defense and Settlement Provision - If the insured does not want to settle a lawsuit, our stand alone EPLI policy will pay 75% of the remaining loss and defense costs.
8. Full Prior Acts Coverage - Coverage for Wrongful Acts that took place before the policy was in place, as long as the claim is made during the policy period.

      These are some of the key things to have in an EPLI policy. The company my agency sells is ABA Insurance Services, which is underwritten by XL Insurance. They offer all of the keys mentioned above at a surprisingly affordable rate.
      It only takes a couple minutes to get a EPLI quote and I handle all quotes personally & privately.
       


Get an EPLI Quote with Lyles Insurance


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