What is the definition of Employment Practices Liability Coverage?
Employment Practices Liability Coverage provides the employers with protection in case an employee files a lawsuit because of discrimination, illegal dismissal or termination, and other alleged violation of his legal rights as an employee. This includes violations such as harassment, invasion of privacy and defamation. Discrimination may be based on religion, race, sex, age, or other pertinent factors.
This coverage covers claims, from past, current and future employees. It also covers lawsuits made not just to the company, but also to its directors and officers, as well as other employees.
The way this coverage is priced is based on the size of the company (in terms of the number of employees and the amount of sales), the industry it belongs, the company's history for employment practices liability claims. The insurance underwriter may also look at the employer's employee policies and procedures, as wells as its practices when it comes to hiring and firing.
| Not a bit | Very useful |
- Endorsement
- Endowment Insurance
- Environmental Impairment Liability Coverage
- Equity
- Equity Indexed Annuity
- Errors and Omissions Coverage (E&O)
- Escrow Account
- Excess and Surplus Lines
- Excess of Loss Reinsurance
- Exclusion
- Employer’s Liability
- Employee Retirement Income Security Act (ERISA)
- Employee Dishonesty Coverage
- Elimination Period
- Electronic Commerce / E-Commerce
- Economic Loss
- Earthquake Insurance
- Earned Premium
- Early Warning System
- Dread Disease Coverage