In today's increasingly litigious business environment, employing staff is inherent with legal exposures and employers thus need cover against allegations of unfair labour practices & disputes. Business owners also need to be protected from meritless claims and the risk of CCMA action, brought by disgruntled employees – EPLI coverage can serve as a last line of defence.
Litigation can be both time consuming and very costly. Employment Liability Risk Insurance grants comprehensive insurance coverage for all employment related claims.
Regardless of how good your Human Resources (HR) department is functioning, any company may fall victim and make mistakes in their disciplinary processes. These mistakes may be costly in defening a wrongful dismissal or discrimination claim -- whether innocent or guilty, or even if the claim is groundless or frivolous -- it can be very expensive when having to deal with a disgruntled employee. Higher salary earners such as senior management, directors or executives, may threaten financial resources and cost a company a pretty penny – that is, if a ruling is made against you.
There are a few leading insurers and specialist niche underwriters who provide cover for Employment Practices Liability Insurance.
These options may be confusing...
In fact, the smartest thing you can do is -- Get a specialist broker to do it for you!