Insurance spotlight: employment practice liability
Despite all HR efforts, things sometimes go wrong within your company. Today, there is extensive legislation that companies have to comply with, such as age, religion or gender discrimination laws. The employment practice liability or EPL insurance helps to protect companies and management by covering damages, certain convictions, settlements and defence costs for different types of violations. This concerns intolerable conduct towards employees in your company, such as harassment in the workplace, discrimination (such as the headscarf discussion), bullying, unfair dismissal or refusal of a promotion.
It is obvious that in these times more and more issues are coming to light – aided by social media - that used to remain under the radar. The recent #MeToo movement may be regarded as a wake up call for companies: employment practice liability issues pose a real risk. Companies in the United States and the UK, in particular, are seeing an enormous increase in these claims. The growing media attention and the tightening up of European legislation have also led to an increasing trend in the number of EPL claims in Europe.
In addition to damage costs escalating in such a manner that they may endanger the continuity of your organization, public lawsuits are also bad for the reputation of a company and its management. After all, this reputational damage has a negative impact on the relationship with your customers, suppliers and future talented employees. At ADD, you can call on high-quality Public Relations guidance to devise and implement a communication strategy that will help to reduce reputational damage.
The insurance policy can be tailored to the wishes of your company. ADD's team of specialists provides a creative and tailor-made insurance solution.
In case of damage, you as a customer can count on an expert and discrete processing of claims. Check here which damage items are included in the EPL policy.
We at ADD know that you have ambitious plans for your business. You want to move forward, grow, expand and build up successes. Needless to say, you need backing. After all, doing business inevitably involves risks. Therefore, be sure to insure yourself well through ADD in 2018.