Monthly Archives: December 2024

Understanding Employment Practices Liability Insurance (EPLI) for Employers in Bloomfield, NJ

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As an employer in Bloomfield, NJ, it’s imperative to understand EPLI, or Employment Practices Liability Insurance, and what it means for you and your business. Employment-related claims can cause significant disruptions and downtime for your business, regardless of your company’s size or industry. Understanding EPLI for employers is a way to protect your business and yourself from allegations, including harassment, wrongful termination, employment-related issues, discrimination, and more. At E.S.T.I.R. Inc., we specialize in providing EPLI guidance and policies for employers who are currently active in the Bloomfield, NJ, region.

Understanding EPLI

EPLI (Employment Practices Liability Insurance) provides financial protection and legal defense costs for business owners and investors who are facing employment-related lawsuits. The right insurance policies can mean the difference between protecting your business or facing a serious and significant loss when faced with a potential lawsuit.

The Importance of EPLI for Business Owners in Bloomfield, NJ

  • Common Employment Claims: EPLI can help protect against wrongful termination, harassment, or discrimination claims while preserving and protecting your brand’s reputation.
  • Legal Fees and Settlements: On average, defending an employment claim can cost upwards of $125,000. EPLI helps to cover court costs, attorney fees, and even settlements or judgments linked directly to the case.
  • Rising Claims: The rise in employment claims in New Jersey increases the likelihood of facing a potential lawsuit, which makes EPLI a wise investment for any business owner.

If you are an employer in Bloomfield, NJ, and you are currently employing full-time staff members, it’s essential to consider EPLI. Finding the right EPLI policy is a must to protect your financial investments in your business while simultaneously protecting your peace of mind. For more information about EPLI in Bloomfield, NJ, as a business owner, contact E.S.T.I.R. Inc. for your consultation and quote today.

How Contractors Insurance Helps Minimize Lawsuits For Your Construction Business

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You may consider purchasing contractor insurance if you own a construction business in and around the greater Bloomfield, NJ, area. Here at E.S.T.I.R. Inc., we aim to help our local community better understand insurance products and how they can positively impact their businesses and lives. Here’s more information about how contractor insurance can help to minimize lawsuits for your construction business.

Provides Liability Coverage

Contractor insurance provides liability insurance. If an employee accidentally damages a home or equipment during a construction project, insurance will cover the damage or replace items, helping to protect you against liability-type lawsuits.

Protects Your Workers On the Job

Many types of contractor insurance policies also help protect your workers while on the job. If you have any employees, you are legally required to carry worker’s compensation insurance for all of your employees. If you fail to do so, those employees can sue you if they sustain injuries during the scope and course of their job.

Offers Professional Indemnity

Lastly, contractors’ insurance helps to minimize lawsuits by providing professional indemnity. If you get into disputes over poorly written contracts or due to errors and omissions in contracts, this type of insurance helps to cover your legal fees or any losses caused by these issues.

Ready to Learn More? Contact E.S.T.I.R. Inc. Now

There are numerous benefits to purchasing contractors’ insurance and numerous ways these policies can help minimize lawsuits for your construction business. If you’re ready to learn more about this type of policy, including obtaining an estimate for a new policy in the greater Bloomfield, NJ area, contact us at E.S.T.I.R. Inc. today to get started.