In the last two decades, the frequency of employment-related lawsuits has increased an outstanding 400 percent and lawsuits for wrongful termination have risen an alarming 260 percent. These lawsuits can cause significant stigma to a law firm and its staff, impose difficult demands of time and energy, and cause tremendous financial losses.
Given the current trends and increases in claims, can your law firm afford to defend itself against alleged wrongful employment practices?
The OSBA Insurance Agency, a subsidiary of OBLIC, has partnered with selected insurers to offer broad coverage and comprehensive risk management tools, including employment training programs, expert advice, compliance guidance, and online resources.
EPLI coverage provides protection for a law firm and its employees against claims made by current, former, potential employees, or third parties for alleged discrimination (based on age, sex, race religion, color and national origin), wrongful termination, sexual harassment, and other employment-related allegations.
Employee lawsuits are becoming much more common, making employment practices liability insurance (EPLI) a necessity for businesses large and small.
If anyone should understand the importance of managing risks, it is a law firm’s partners and executive committee members. The risk your law firm has is real and significant.
Additionally, our insurance partners provide services including HR Program Development, HR Advice & Guidance, HR Training, Harassment Training, Employee Complaint Hotline, and an array of online materials as part of your employment practices liability insurance.