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.