Covers the personal assets of company leaders if they are sued for wrongful acts. It protects executives from personal financial loss during legal challenges.
What to consider
Review what employment-related issues are covered.
Understand policy limits and exclusions.
Implement best practices to minimize risks.
Real world scenarios
A business secured employment practices liability insurance to cover claims of wrongful termination or discrimination.
An HR manager ensured the company had EPL coverage before implementing new hiring policies.
An organization faced a lawsuit and relied on EPL insurance to cover legal costs.