Common Question About EPLI
You Ask, We Answer
Yes, EPLI policies typically cover the legal defense costs associated with employment-related claims. And this includes attorney fees, court costs, and other expenses related to the defense against a covered claim.
EPLI is generally not required by law. However, businesses with employees are at risk of exposure to employment-related claims. Having EPLI coverage is strongly recommended to protect the company and its owners from potentially significant financial losses.
The cost of EPLI can vary based on several factors, including the business size, industry, number of employees, claims history, and risk management practices. Additionally, coverage limits, deductibles, and specific policy terms and conditions can impact the cost of the premium.
Yes, EPLI policies typically cover claims from current and former employees as long as the claim arises from events during the policy period. Retroactive coverage may also be available for claims arising from incidents before the policy was in effect.