“As the economy continues to falter and a new Administration takes over in Washington, the workplace is being seeded with new legal hazards for business owners that could lead to an increase in employment charges and lawsuits.”
A more challenging environment for employers is anticipated with the high volume of layoffs, new worker-protection legislation and the probable elimination of damage caps in employment litigation. Damages awarded to workers could rise to even higher levels and defending against an employment complaint may be more expensive .
Already an urgent need for business and institutions of any size, Employment Practices Liability Insurance (EPLI) will now be even more crucial.
“The reality is that EPLI has evolved from a high-priced option to an affordable necessity. EPLI coverage is now available in business owner policies or other commercial package policies.”
Source: Insurance Journal-National Region January 12, 2009