What does Employment Practices Liability Insurance cover?
It covers the costs associated with a tribunal or legal action from an employee or former employee. Employment Practices Liability Insurance provides for any damages awarded against you, as well as your defence costs.
Do I really need Employment Practices Liability Insurance?
This cover is much less common than other liability insurances, such as Employers’ Liability Insurance (which is a legal requirement) and Public Liability. However, due to the increased number of Employment Tribunals in recent years, more companies are opting to take this cover. This cover is not compulsory, but you should consider how exposed you are to the risk of a claim from an employee. If you have a large HR team, or have the services of an outsourced HR specialist, you may be less at risk than companies that don’t.
Why should I work with JM Glendinning for Employment Practices Liability Insurance?
Having been established since 1972, we’re experienced in all aspects of business insurance and have helped businesses of all sizes find the right insurance for their needs. Even in a niche area like Employment Practices Liability Insurance, we have strong affiliations with the right insurers to help you find the right cover at the right price.