If you own a business, employment practices liability insurance is something you should have. Employment practices liability insurance protects you and your business against employee lawsuits. According to the Insurance Information Institute, an increasing number of employers are being sued by their employees. If you have a business, especially a small business, it is important that you protect yourself against such events. Accidents and emergencies happen, even when you think you are prepared enough to prevent such accidents. Employment practices liability insurance will serve as a safety net if something goes wrong.
Employment practices liability insurance will protect you in the case that certain claims are made against your business, including discrimination, sexual harassment, improper management of employee benefit plans, violations of employee contracts, denial of career opportunities, wrongful termination or discipline, careless or negligent evaluation, refusal to promote or hire, or the unjust causation of emotional distress.
Elite Insurance Solutions can protect your Tennessee business, covering legal fees in the event that an employee sues the company. While employment practices liability insurance does not cover civil or criminal fines or punitive damages, it does cover defense for lawsuits, judgments, and settlements, whether or not your business wins the suit. The cost of employment practices liability insurance is calculated based on a few different factors, mainly, how many employees your business has, the type of business, and risk factors for your business.
Elite Insurance Solutions can provide you with more than just employment practices liability insurance, too. They have general and professional liability plans, as well as specific coverage offers such as fire liability and employer’s liability. The general liability plan is something all businesses should have, covering bodily, persona, or advertising injury, property damage, attorney fees, and damages. The professional liability plan covers employees who have jobs that require accuracy and specific conduct, such as health care professionals and architects. The plan covers medical and court costs, damages, and attorney and judgment fees. Elite Insurance Solutions will help you to create a coverage plan that best fits your business.
While you will feel safer knowing you have the protection of Elite Insurance Solutions, there are ways you can help to prevent employee lawsuits. Educate and instruct your managers and employees about proper workplace behavior and policies. Make sure corporate policies are accessible and visible to all employees by posting them around the workplace and putting them in employee handbooks. To avoid discrimination in hiring, create effective programs for screening potential employees. Create documentation for all events and for the steps being taken to solve any problems involving employees. Make clear the business’s policies regarding sexual harassment and discrimination. Also, be sure that there are clear and accessible avenues for employees who face these behaviors and need to report it.
Call Elite Insurance Solutions today for the reassurance that your business is protected.
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