Employment Practices Liability
Published: 02-Apr- 2007 | Product Category: Employee Benefits
| Comments: 0
Globally, companies of all sizes and in every industry have been affected by the surge in employment-related litigation over the past decade. Today's business climate has left companies open to many forms of employment risks including sexual harassment, wrongful termination, and discrimination lawsuits, which are commanding ever-higher damage awards.
Employment relationships are governed by complex and rapidly changing laws and regulations. In 2007, the U.S. Equal Employment Opportunity Commission (EEOC), the agency charged with enforcing key federal anti-discrimination statutes, announced its "Systemic Initiative," which includes a commitment to filing more class action lawsuits to address what it describes as a "pattern or practice, policy and/or class cases where the alleged discrimination has a broad impact on an industry, profession, company, or geographic location."
According to EEOC enforcement and litigation statistics, the number of filings alleging employment discrimination (including race, age, disability, religion and national origin) totaled 82,792 in 2007 — the greatest number of charges received by the federal agency since 2002 and the largest annual increase (9 percent) since the early 1990s.
Thus, the question for any firm is no longer whether it will be faced with employment practice liability (EPL) claim, but rather, when it will occur, how much it will cost and what damage it might cause to its reputation and brand image. Standard policies, procedures and supervisory training are no longer enough to protect companies from the high costs of employment litigation.
Marsh is dedicated to providing client companies with the most comprehensive employment practices liability insurance (EPLI) coverage available, along with state-of-the art guidance tools for the prevention of employment related risks. We help clients protect themselves from the lasting effects of negative publicity and jury awards that could eat away at their bottom line with special EPLI initiatives designed to:
- Lower the cost of transferring employment practices risk;
- Protect the company, its directors and officers, and employees from claims brought by past, present, or prospective employees (and third parties); and
- Reduce the risk of costly litigation.
Marsh's Employment Practices Liability services include:
- Global Leaders Endorsement: Specially negotiated and created for large and multinational companies with more than 4,000 employees.
- Leaders Preferred Endorsement: Specially designed for mid-size companies with 250 to 4000 employees.
Rate this Article
Leave a Comment