Why is EPLI Coverage Important?

Employee lawsuits can be expensive. According to HR Morning, a news site for HR Professionals, the average EPLI lawsuit settlement is roughly $125,000 and the median judgement against employers is about $200,000. 25% of judgements are even more than $500,000. Those costs don’t include additional expenses, such as lost productivity or reputational damage, and often it can be hard to defend yourself in an employee lawsuit. You don’t want a potential million-dollar decision to be based on abstract testimony from both the employer and employee. That’s why its smart to have EPLI coverage to provide the funds to handle your defense and settle lawsuits quickly.