Employee Practices Liability Insurance
Employment practices liability insurance is essential for small to mid-sized companies. In uncertain times, however, the shield of EPLI coverage is an even bigger necessity.
Statistics show that employer/employee conflicts are one of the fastest-growing areas of litigation in the United States. As an Employer of Record, Strategic Contracting Services (SCS) safeguards your company. We provide legal and regulatory compliance programs that strengthen the foundation of a business.
Moreover, the smart coverage of our employment practices liability insurance for partner companies is comprehensive.
Employment Practices Liability Insurance = Limiting Risks
Beyond coverage, SCS provides a comprehensive program to reduce a company’s exposure to claims by employees. A key step is the institution of the right policies to eliminate risk factors. By providing you with the ideal model of workplace policies, an Employer of Record helps to prevent problems before they happen. Your business can thrive and operate at maximum productivity.
By administrating and being responsible for EPLI coverage, we ensure that you will be able to run your business as you envisioned. However, business owners need to realize that EPLI claims are very common. Did you know the Equal Employment Opportunity Commission has a backlog of over 100,000 discrimination and sexual harassment complaints? Moreover, the average complaint takes more than a year to handle.
Hence, lawyer fees can balloon out of control without the protection of EPLI coverage. Are you willing to take that chance moving forward?
Valuable Comments and Responses about EPLI Coverage
Many small to mid-sized companies don’t believe they need employment practices liability insurance. We hear the same reasons over and over again from companies about why they don’t need EPLI coverage:
Small Company: "We don't need to worry about EPLI problems because we're like a big family here. Nobody’s going to sue their own family."
The SCS Response: "When troubles arise, as they always do when you have multiple employees, divorce proceedings will be very expensive. Attorney fees sink companies.”
Mid-Sized Company: “The chance of an EPLI problem happening to us is slim to none. EPLI insurance problems happen to big corporations, not to well-run firms.”
The SCS Response: “That’s not the case: Companies with 500 employees or less comprise 70% of EPLI cases and companies with 100 employees or less actually comprise 40% of EPLI cases. Small to mid-sized companies are at a greater risk.”
Thus, it makes sense to protect your company by working with an Employer of Record.
Protections Offered By Employment Practices Liability Insurance
In the post-COVID19 economic climate, EPLI claims are increasing. The potential cost of a discrimination or sexual harassment claim can threaten the future viability of your business. Indeed, employee-related claims are on the rise, including:
- Sexual Harassment and Discrimination
- Wage Disputes and Hourly Disputes
- Wrongful Termination and Breach of Contract
- Negligent Promotion and Negligent Supervision
- Emotional Distress and Invasion of Privacy
Let’s face the simple truth — if you already have an EPLI case underway, it is already too late. Partnering with an Employer of Record (EOR) today can help your company today before it’s too late. Even frivolous EPLI cases filed by frustrated and desperate employees can still cost a lot to resolve. Picture the bill for the attorney fees as well as the hours, days, and even weeks of constructive time lost: It’s a scary combination.
As an EOR, Strategic Contracting Services offers a "value added" approach. When it comes to working with client companies, we offer essential services like EPLI coverage that allow your business to succeed beyond the burden of employee-related issues.
Please contact SCS today so we can outline how our EPLI coverage will safeguard your company moving forward.
If you're interested in our services use our Get Started Today page to arrange a consultation.