Did you know that commercial liability and commercial umbrella policies don’t usually cover employee lawsuits? Even though employee filings with the Equal Employment Opportunity Commission (EEOC) are increasing rapidly, along with the size of their associated settlements, some business owners don’t have the appropriate insurance coverage.
Small business owners are particularly at risk. Believing their close-knit group of employees would never file a lawsuit provides a false sense of security and can have devastating consequences. Let’s take a look at EPLI coverage and what it can do for your business.
