Employment practices liability insurance covers legal expenses if an employee sues your tech company over harassment, discrimination, or another violation of employee rights.
Employment practices liability insurance protects tech companies if an employee sues over work-related issues.
This means small tech businesses don’t have to pay legal costs, including judgments, out of pocket when an employee or group of employees claim their rights have been violated.
Employment practices liability insurance is usually offered as a claims-made policy. This means that the insurance has to be active both when the incident of wrongdoing was filed and when it took place.
Some insurance providers insist on choosing your attorney if a claim is filed. That’s because they want someone with a background in workplace issues on the case to give your small business the best results and protection possible.
To save small tech businesses money, insurers often suggest pairing EPLI with directors and officers insurance (D&O). EPLI and D&O are different types of management liability insurance. D&O protects a tech company’s board members and officers from getting sued over decisions they made on behalf of the company.
A management liability insurance bundle protects your business and its execs from a wide range of liabilities related to decisions about employment, management, and finances.