Employment Practices Liability Insurance (EPLI)

At Lake Region Insurance Agency, we understand the intricacies of business ownership as few others do. As an owner, you can reap so many rewards when you run your own shop. However, there’s an added element of vulnerability and risk. That is why every business owner with employees should consider obtaining Employment Practices Liability Insurance (EPLI.)

It’s hard to fully know the scope of your risk exposure as an owner. That’s where the team of independent agents at Lake Region Insurance Agency offers an essential partnership. We help you understand and choose the coverage that fits every business stage from launch to scale.

What Can EPLI Cover?

Owners are used to thinking about physical risks such as a customer falling and getting hurt on the property. But the modern workplace harbors a lot of abstract threats, as well. This kind of policy covers you in the event of litigation for the following:

  • Discrimination – This charge can come into play for protected demographics involving gender, age, disability, race, ethnicity, religion, sexual orientation, and more.
  • Wrongful Discharge 
  • Sexual Harassment
  • Hostile Work Environment
  • Lack of Advancement

Businesses today face increasing demands placed on hiring managers, along with specialized human resources requirements. Companies can find themselves in employment practice litigation even with the best of intentions toward their candidate pools and employees. Securing EPLI gives enhanced peace of mind to companies with employee teams of all sizes.

How Variable Are EPLI Premiums?

Depending on your industry, business size, and employee turnover, your premiums can vary significantly. Your Lake Region independent agent can shop for the most comprehensive policies on the market at the best prices. 

And with multi-policy and multi-line discounts, we ensure you aren’t paying too much. You’ll likely keep your premiums lower with an EPLI endorsement on your existing liability policy rather than a stand-alone EPLI plan.

What Will My Policy Cover?

If an employee or employment candidate brings a lawsuit against your company, the costs can skyrocket. An employment lawsuit in the US can easily surpass $150,000 for legal defense, court costs, and settlements. An EPLI policy will help cover those costs up to the limits of your policy. 

Further, an EPLI policy covers you at every step in the recruiting and hiring process. It can also include employee evaluations after hiring. If you have employees or know that you will need to hire, securing an EPLI policy makes sense.

Lake Region: Insuring Greater Minnesota With Pride

We’re proud to base our agency offices in Willmar, New London, and Cokato, MN. Our clients and neighbors are one and the same. We’ve spent more than five decades cultivating relationships with those who choose us for their insurance needs. We’re here to stay and here to serve.

Because we’re an independent agency, we can shop the insurance market with more freedom. We’re always on your side. Stop by or call us to set up a free insurance review and estimate. Your life and business change over time, and your insurance needs will too. We’ll make sure you have the protection you need in each part of your business so that you don’t need to worry about paying for the unknown.

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