Employment Practices Liability Insurance
Today’s employment practices liability environment is impacted by several factors. A challenging economic climate causes companies to make some tough decisions, including employee layoffs and tougher work requirements. We’ve seen massive layoffs in the tech sector and several companies walking back their remote work policies. In this type of economic environment, employee-related lawsuits inevitably rise.
The heightened awareness of sexual harassment brought about as a result of the “Me Too” movement also continues to impact the employee-employer litigation landscape with higher settlement values and amounts. Moreover, a strengthened regulatory environment for existing and new protected classes against discrimination has fueled additional litigation.
Organizations of all sizes and structures should be vigilant about their employment practices. In addition, small or new businesses are often the most vulnerable to employment claims, as they may lack a legal department or employee handbook detailing the policies and procedures that guide hiring, disciplining, or terminating employees.
It’s important to have best practices in place and to ensure the business is protected against potential lawsuits with Employment Practices Liability Insurance (EPLI).
