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Employee Practices Liability, often referred to as EPLI, covers businesses against claims by workers that their legal rights as employees of the respective company have been violated. There has been a considerably large rise in lawsuits where employees file against their employers. Traditionally, most lawsuits are filed against larger corporations such as Walmart or Target, but no company is fully immune to the risk of a lawsuit via an employee. Smaller companies are now beginning to understand that they, too, are going to need the type of insurance protection that EPLI provides. Some insurance providers add this as an endorsement to a Business Owner’s Policy (BOP) they offer, but remember that an endorsement will change the terms and conditions of the policy. Other companies tend to offer EPLI as a stand-alone coverage policy.  

What EPLI Covers 

• Sexual harassment 
• Discrimination 
• Wrongful termination 
• Breach of employment contract 
• Negligent evaluation 
• Failure to employ or promote 
• Wrongful discipline 
• Deprivation of career opportunity 
• Wrongful infliction of emotional distress 
• Mismanagement of employee benefit plans 

Cost of Coverage 

As we see with every type of insurance coverage, the coverage cost you pay will always depend on the type of business you are insuring. When it comes to EPLI coverage, the cost depends on your business type, the number of employees you have, and various additional risk factors. Risk factors usually refer to if your company has been sued over employment practices in the past. The policies will reimburse your company against the costs of defending a lawsuit in court and for judgments and settlements. Whether your company wins or loses the lawsuit, the policy will still cover the legal costs. Typically, the policies will not pay for punitive damages, civil or criminal fines. If there are liabilities covered by other insurance policies, they are excluded from EPLI policies. 

How to Avoid Potential Employee Lawsuits 

When reviewing your hiring and screening process make an effort to make sure that you are avoiding discrimination the entire process. Ensure that you have the corporate policies posted throughout the workplace and a dedicated section in the employee handbook so the policies are easily accessible to all employees. Take care in teaching your employees the proper steps to take if they are the object of sexual harassment or discrimination while at the workplace. Express to all employees that they need to know where the company stands on what behaviors are acceptable and which ones are not permitted. Keep documentation on everything that occurs and the steps that you and your company are taking to prevent and solve employee disputes.  

If you would like to learn more about the policies and coverage included in Employee Practices Liability insurance, reach out to your local agent today.  

Many people in the world still have jobs and positions that require them to complete work outside no matter the weather. Worker’s compensation benefits were indoctrinated to help protect those who work in labor-intensive positions. While we can lean on the workers’ compensation benefits to cover work-related injuries, it is in everyone’s best interest to try and avoid all potential harm that could occur. Winter is in full force and those workers who are out on the job should keep in mind the potential dangers that come with the territory. Working outdoors in cold, wet, icy, or snowy conditions can lead to cold-related illnesses and injuries such as hypothermia and frostbite. Below we’ve reviewed some of the best ways to help prevent any winter weather-related injuries from happening to you or your staff.  

Who Is at Risk? 

As mentioned previously, those who work in a cold environment may be at risk of cold-related illnesses and injuries, or “cold stress.” There are many professions where workers must be subject to the harsh weather that comes in the winter months. These professionals include police officers, snow cleanup crews, sanitation workers, farmers, construction workers, and many others. If your employees take certain medications, are in poor health, or suffer from any illness (diabetes, high blood pressure, heart disease) it could mean they will face high risks in the work field.  

Prominent Winter Injuries and Illness  

There are three prominent illnesses that can be contracted through working in a cold-weather position. Below we have listed the three illnesses, what causes them, and how to prevent them from occurring. 

Hypothermia  

What Causes It: 

When exposed to cold temperatures, the body begins to lose heat faster than it can be produced. Once outside for a prolonged period of time, the heat that your body has stored will be used up. As your body heat is released the temperature of the body will become abnormally low and begin the process of hypothermia. Early symptoms of hypothermia include shivering, fatigue, loss of coordination, confusion, or disorientation. 

How to Prevent:  

Hypothermia is an illness that affects the brain. This will cause the victim to be unable to think clearly or perform normal functionality. To combat this, work with another coworker or work in groups.  

Frostbite 

What Causes It: 

Your fingers, toes, nose, and ears are the most prominent body parts that are affected by frostbite and the most prone to it. Frostbite occurs when a part of the body freezes, causing damage to the tissue. Signs of frostbite beginning include numbness or tingling, stinging, or pain on or near the affected area.  

How to Prevent: 

Checking the weather and wearing protective clothing to combat the weather of that day. If working in icy and snowy conditions items such as warm gloves, insulated footwear, and warm hats will be the best choices. 

Trench Foot  

What Causes It: 

If your feet are kept wet and cold for an extended period of time, you may come down with trench foot. Moisture causes your feet to lose heat, and this can slow the blood flow and damage tissue. As an example, trench foot can happen when it is as warm as 60 degrees. 

How to Prevent: 

Be mindful of your footwear and the maintenance of them in order to help keep your feet warm and dry. 

If you need to add worker’s compensation to your business insurance plan or would like to know more about the policy, talk with your local agent today. 

With the introduction of DIY products and ambitious projects done on Pinterest, more and more people are trying their swing at becoming a contractor in their spare time. Working as a contractor seems to be more fun than working a regular 9 to 5 job. Being a contractor means you’re the boss. You could own your own business, have business partners, or just practice contracting as a fun hobby. Being the boss means that you are on top! When you are the boss, you will have better working conditions, you set the start time of the workday, and there is no HR officer who will take notes while glaring at you. Being a contractor, you’ll need some type of insurance for your business. Good thing there is a type of insurance just for contractors! But, why do you need insurance? Below are listed 3 great reasons why you should invest in getting contractors’ insurance.
 

1. Claims Protection

When you are a contractor, you are solely responsible for the area in which you do your work. If someone were to get injured within your area because of an accident or plain negligence on your part, you can expect that person to file a claim against you. This same responsibility applies to your employees if they were to cause any type of accidental or, in the worst case, intentional damage to the property area you are working within. Why do you need this protection? These types of claims could be big enough to completely shut down your business if you’re forced to pay for the damages out of pocket. To avoid the potential of disasters like this, you should consider taking a general liability insurance policy for contractors. Whatever potential financial liabilities you end up with, you can be reassured that the general liability insurance will cover them and help to keep your business from shutting down.
 

2. Protection of Your Employees

As we know, workplace accidents happen, they’re accidents. High-risk contracting jobs like roofing are a step away from accidents happening. One wrong step while working on a roof and the accident could lead to a worker sustaining an injury. The injured employee has every right to file a claim against you, they were hurt while working on your job site. They can file a claim for their pain and lost wages due to recovery time. If you don’t have worker’s compensation insurance it’ll be a path of trouble. Almost all states require employers to get workers’ compensation insurance. This coverage is a win-win for all parties involved. Injured employees can get all the benefits that are due to them and it wouldn’t matter who is at fault for the unforeseen accident. On top of that, you will be spared from the cost and hassle of a potential lawsuit that the injured employee could have filed against you.
 

3. Payment of Legal Costs

Here is a big one. Did you know that uninsured contractors often get hit hard by attorney’s fees, court expenses, and other legal financial expenses when some films a claim against them in court? In case of an interested party suing you in court, your contractors’ insurance policy should cover the legal costs that a lawsuit may entail. This is a piece of mind when you go to work a new job with a new client. 

Ray Silverstein, president of small business advisory group President’s Resource Organization, has said that there are specific benefits that good employees expect out of a job. Entrepreneur published his perspective that while medical insurance is at the top of that list of expectations, business owners should also be intentional about offering employees retirement plans, disability insurance, and life insurance as well. The reality is, only some benefit packages are required by law. These include withholding FICA taxes for the sake of retirement and disability; complying with FMLA; aligning with worker’s compensation requirements; and giving your employees time off for jury duty, military duties, or voting. However, it’s important to see why a great benefits package–including less traditional benefits like flex time–is key to showing your employees they have value. Here’s why.

Employee attainment and retention. 

Randstand US Research has noted that 61 percent of employees would consider accepting a lower salary if the company making the offer had a great benefits package. Forty-two percent of employees would actually consider quitting their current job and accepting a new one elsewhere because they are unhappy with current benefits. An attractive benefits package is basically viewed as a part of a salary offer and can, at times, make up for an annual wage that could be topped elsewhere.

Focus and attention. 

Employees who aren’t worried about finances are employees whose minds won’t wander as much at work. When it comes to long-term financial planning, the difference between feeling focused and committed to the job you have (instead of daydreaming for what position you should pursue next) can be rooted in a healthy 401(k) match, life insurance, or college debt assistance.

Loyalty. 

You want loyalty not just from your customers but also from your employees. Employees who feel seen and understood seem to know that their employer recognizes the number of hours they are putting in, not just in the office but on the telephone at home and during what was supposed to be a lunch break as well. At times, this recognition looks like the benefit of flex time. This may mean permission to head home early on a Friday, or permission to work some days remotely from home. Flex time also recognizes the pull of family circumstances on full time employees. 74 percent of employees say they have missed work due to a family circumstance. Employers who offer benefits communicate that they understand employees are also parents, children of aging parents, and simply “doing life” with people they love who have unexpected needs. 

Overall general health. 

Employees who have a strong health insurance package are more likely to see a physician when health issues arise. Instead of avoiding astronomical bills and giving a potentially treatable problem a chance to snowball, employees with health care plans, co-pays, and reasonable deductibles are less likely to put off important procedures and more likely to seek care when needed. This is where dental and vision insurance also steps in. If the numbers are doable for you as a business owner, you want to communicate to your employees that you fully value their physical and mental well-being.

Whether you actually hurt yourself or just suffer from a bruised ego, slipping and falling is always a nasty shock. At home, you can usually just dust yourself off and forget about it, but if you own a business, slips and falls suddenly become much more serious. Maintaining a safe business property for your employees and customers becomes paramount, both to give them a great experience, and to prevent any big insurance claims from knocking at your door. 

Reduce your business’s potential for hazardous slips and falls by implementing these safety tips: 

Secure Stairways and Ramps 

Stay up to date with your city’s local building codes, and install the proper handrails along every stairway and ramp. Even tiny platforms comprised of 1 or 2 steps should have some kind of banister in place. This gives stability to your pedestrians and helps protect you if someone falls in those areas and decides to pursue legal action against you. Also, consider lining your stairs and ramps with a non-slip material. 

Maintain Walkways and Lawn Areas 

Remove obstructions from any walking paths that your employees or customers have to use. It is also important to repair uneven, broken, or bumpy surfaces in the parking lot or on the sidewalk. In the winter, make sure your sprinkler systems are turned off and drained to prevent leaks and icy patches around your establishment. 

Keep Safety in Mind All the Time 

Aside from covering the basics to keep your business up to code, just make it a habit to look for potential slipping/falling hazards located all-around your business.  

• Maintain adequate lighting in all areas where pedestrians will be walking.  

• Keep “Wet Floor” signs in areas where your employees can conveniently access them to warn people away from spills. 
• Repair torn carpet, loose or missing floor tiles, and other flooring materials as soon as you can after they are damaged. 
• If you live in an area with heavy snowfall, establish a snow removal plan for parking lots, sidewalks, and dumpster areas.  
• Keep emergency phone numbers posted in areas where people can see them easily. 
• Stay stocked up on first-aid kits and keep them in plain sight. These emergency resources help you and your staff minimize the damage of a bad fall. 

When an employee or a customer takes a fall at your business, the consequences have the potential to be dire. Prevent them as much as you can by keeping the area clean and maintained. People will be safer and your business will look better for your efforts! Overall, make sure you are protected by a solid insurance policy that will cover your company if someone gets hurt anyway. You can never be too secure!  

A person who is financially “literate” knows how to budget, knows how to invest, and knows how to manage long-term finances. In general, you can consider yourself financially literate if…

…you know how to take care of your debt. 

US News & World Report suggests that the wisest strategy for paying off what you owe is to start with your largest debt and pay more than you owe each month. If you receive a bonus at work, put it toward your debt. Stop using credit cards, and remove your auto-saved credit card data from the places you shop online. Dave Ramsey offers another approach. The national household debt in the United States, he says, totals $13.54 trillion. This includes car loans, student loans, and credit cards. Your personal debt, says Ramsey, should never be handled with debt consolidation, dipping into your 401k, home equity loans, or debt settlement. What will work is setting a monthly budget and deciding how every dollar will be spent. He suggests the snowball effect, which means you ignore interest rates and make the minimum payment on every debt except the smallest. Tackle the smallest debt with every extra penny you can spare. When that debt is paid off, move all that monthly spending onto your next smallest debt.  

…you understand interest rates. 

Interest is basically the cost of borrowing someone else’s money or the bonus you get for loaning your money to someone else. If you’re the one borrowing, it means what you owe is going up slowly over time. The lender charges a specific percentage–per year, per month (it depends on the loan)–and it adds up when calculating just how much you are going to pay back in the long-term. You want to keep this in mind when deciding just how quickly to pay the loan off. If you buy a house for $200,000 (with a $20,000 downpayment), and your interest rate is at 4.1 percent, interest will make a difference in your total cost should you take 15 years to pay it off or 30 years. If you can pay it back in 15 years, the total cost of your home, including interest, will end up $261,286. If you take 30 years instead, the added interest will raise the final amount you spent on your home to $333,114. That’s more than $70,000 extra spent simply because you took more time to pay it back. 

…you protect your assets. 

If you’re an entrepreneur, you’ll want an insurance agent on your side to make sure you obtain appropriate business insurance, to make sure your personal assets aren’t at risk of being claimed by your creditors, and to obtain an umbrella policy. If you’re a renter or a homeowner, you need insurance that will step in and protect you financially should your property experience damage or destruction. If you’re a business owner, you may want coverage for work-related vehicle accidents in case an employee has an accident while on the clock, harming someone else or someone else’s property. You also want to learn about planning for how you would pay for being cared for in the event of an injury, or even the effects of aging. Long-term care insurance, for example, can protect your financial assets if you unexpectedly suffer a stroke or begin experiencing symptoms of dementia and you suddenly need to pay for care at a nursing home.

…you know how much money you actually have. 

In an age where we can swipe a credit card and debit card for any purchase, some individually truly do not know how much money they have from one moment to the next. While you don’t necessarily need to switch back to a checkbook with a spending deduction log in the back, you do need a plan for checking in on your spending in real time. This includes budgeting, regularly logging into online banking to check your balances, and knowing whether your credit card bills can actually be covered within your budget at the end of the month. Financial literacy also means knowing what a reliable cushion of cash looks like so you never creep towards that $0 balance in checking, which puts you at risk of additional fees and penalties. 

The Federal Emergency Management Agency (FEMA) reports that 40 to 60 percent of small businesses never recover and re-open their doors after a disaster. It is in the best interest of your business to maintain both adequate insurance coverage and a disaster recovery plan so you’re prepared to bounce back when Mother Nature comes calling.  

In 2019, there were 14 major weather climate disasters that totaled community losses exceeding $1 billion in the United States. This included flooding, tornado outbreaks, hail storms, droughts, wildfires, and tropical storms. If you find yourself in need of rebuilding after a similar event, it’s important to:  

Stay on a short timeline. 

If you’re a small business, you’ve got to communicate your closure to customers, employees, and stakeholders, then find a way to re-open within five days if you want to preserve the chance you will still be in business in a year. Penning a plan for a course of action for if your business becomes nonoperational due to disaster is key. This includes a plan to protect assets and access important documents such as insurance policies, hardware inventory including serial numbers, business contracts, and employee records. 

Document all damage. 

Your disaster response plan should indicate which individual within the company is responsible for photographing, videotaping, and documenting physical damage to property to assist with an insurance claim. 

Contact your insurance representative immediately. 

A delay in communication can mean a delay in financial assistance, and a timely reopening is crucial to protecting the odds of your business making it long-term. 

Take advantage of offerings from FEMA and the U.S. Small Business Association (SBA). 

The SBA Office of Disaster Assistance offers low-interest loans for repairing or replacing real estate, inventory, machinery and equipment, and business assets that have been damaged or destroyed in an event that has been declared a disaster. 

Check your air quality. 

Mold can grow anywhere oxygen and moisture are present. If your building hasn’t had the humidity under control for a few days, you haven’t had maintenance services, appliances haven’t been properly vented, or your roof has been leaking, you’ll want to make sure your work environment is safe for employees to return. 

If necessary, move to an alternate location with access to duplicate data. 

It’s more important that you continue operations than it is you wait to re-open operations at your current location. The more contact you can maintain with your customer base and employees, the better. Operating on a virtual server (also known as cloud hosting) or having access to a back-up of all company data off site can make this possible when necessary. This will allow your company data to be accessible from anywhere, rather than only at your original location. 

Communicate your priorities to your employees. 

First and foremost, take care of your people. You want your employees to hear that their safety is of utmost importance, whereas computers and carpet can be replaced. Keep in mind the financial strain a lapse in pay can cause an individual, and work to create a team mentality that despite the current struggle, the goal is to continue operations–or re-open as quickly as possible–for long-term success. The state may provide temporary assistance for employees who need support during the transition. 

The last thing you want to focus on when starting or running your business is what could go wrong. While you aren’t necessarily going to face struggles right away, if you aren’t covered with a good insurance policy, you’ll likely experience some issues down the road. Since running a business is risky, you should plan on being prepared to handle anything that comes up with the proper business insurance policy. But how do you avoid spending too much? Here are some tips that could save you some money on your insurance plan. 

Know What You Need  

Not every business needs the same amount of coverage. It all depends on what your business does and the risks involved. At the minimum, most businesses are required by law to have policies for workers’ compensation, unemployment, and disability insurance. But that’s just the minimum. When looking at how much coverage you need, you can start by looking at general liability insurance which will cover your business for any third-party damages, legal defense costs, and reputation damage from libel, slander, or copyright infringement. In addition, also consider a Business Owner’s Policy (BOP) to cover your business’s property and typically cover more for less money than a general liability policy. Other coverages will depend on the nature of your business, which your insurance agent can discuss with you your options in more detail related to your situation. 

Increase Your Deductible 

For most insurance policies, not just business insurance, you can lower your premium by increasing your deductible. Paying a higher deductible means less money the insurance company will have to pay after you make a claim on your policy. Because of this, insurance companies are willing to offer coverage at a lower price. Your agent will be able to discuss with you whether or not this would be a favorable decision for your business and the pros and cons of each choice.  

Bundle Your Policies  

Bundling your policies means that instead of buying separate policies for every type of coverage you need, you can purchase a package that will offer the same coverage for a lower price. Think of it like going to a restaurant. If you order an entree, side, and drink separately, you’ll end up paying a bit more than if you had ordered the combo that includes those items at a lesser cost. Bundled policies are the “restaurant combos” of insurance.  

Be Safety-Minded 

The higher the risk of injury at your business, the higher your insurance premiums will be. The safer your work environment is, the better deal you’ll get with your insurance. To get a better price, follow all safety recommendations from your insurance company such as enforcing safety precautions to avoid having your premiums raised to cover the extra risk.  

Review and Update Your Coverage Every Year 

As your business changes, so will your coverage needs, which means you should review your policies each year around the time of renewal to see if there are better options for either coverage or price. Also, by reviewing your policy with your agent, they will be able to make sure you aren’t paying for any policies that you may have needed for the previous year but not the upcoming year.  

Consult with Your Independent Agent 

Remember when you are reviewing your policies or looking at what kind of coverage to get for your business, consult with your insurance agent to help you shop for the best deals. They know insurance policies inside and out and will be able to guide you through making the best decisions for your business. If you have any questions or think you could be spending less on insurance for your business, give us a call today. 

In this Internet age, it’s incredibly easy to purchase insurance online – directly from the carrier and without ever having to leave your screen. When you’re in charge of insuring a fleet of commercial vehicles, this option is surely tempting. You don’t have much time, and purchasing insurance direct online will save you both time and money, right? It’s probably not as simple as that. Sure, the DIY approach might save you some time upfront, but how much do you really understand about the process? You’re an expert in your business, so you should be working with an expert in the insurance field to get the coverage that best fits your needs.  

YOU GET MORE OPTIONS 

When it comes to your carrier and coverage options, there is a clear benefit to working with an independent agent. Whether you’re running a trucking company or a business with commercial vehicles, you’re already busy around the clock. You don’t have time to scour the internet for the best insurance. Instead of having to shop around on your own, your agent will do that work for you and provide you with choices, so you can get the coverage that is best for exactly what you need.  

THEY’VE DONE THIS BEFORE  

A good agent knows their stuff. They have assisted numerous clients with purchasing commercial auto insurance for their business vehicles, so they understand the ins and outs of the process. If you try to go it alone – especially if it’s your first time purchasing insurance for your business – you may find yourself lost or confused, without anyone to give advice. Using an agent ensures that you have someone taking care of you who knows what is going on at all times and can explain it to you in plain terms. And if you have to file a claim? Your agent’s support and expertise will be even more invaluable in such a potentially stressful time.  

IT’S A PERSONAL RELATIONSHIP  

This can be one of the greatest advantages of working with an independent agent rather than purchasing insurance directly from a carrier. When you purchase coverage on your own, you may do it online and never speak to a real human. If you call the carrier, you will likely be connected to an employee in a call center. While it is possible to have a good experience with one of these employees, you won’t be able to build a relationship in the same way that you can with your own personal agent. Independent agents specialize in building an insurance portfolio just for you, so we understand the unique needs and challenges of your business in a way that a direct representative of a carrier may not. For your commercial auto insurance needs, the advantages of working with an independent insurance agent are clear. 

The thought of facing a lawsuit at your business is a scary thing. Large businesses likely have a legal department that is practiced at handling these situations, and they may even have a budget set aside specifically for legal matters. For small businesses, it is not so easy. Small business owners may think that the threat of legal action will never happen to them. The unfortunate truth is that this is simply not true. In fact, according to one poll, 43% of small business owners have been involved with or faced the threat of a lawsuit.

The damages resulting from legal costs may be enough to put you out of business. Even if they don’t, the financial hardship will put immense stress on you and your employees. To add to that, the lawsuit may be something that harms your reputation in the eyes of the public or even the media. In order to protect yourself, your employees, and your bottom line from the myriad negative effects of a lawsuit, you must make sure you are properly prepared. This means having the right business insurance and good legal counsel available.

What Kind of Insurance Is Needed to Prepare for a Lawsuit?

It should go unsaid, but you need to make sure your business has the insurance coverage it needs before the threat of a lawsuit ever appears on the horizon. Because when it becomes too late, the consequences may just destroy everything. Here are the most common types of business insurance that can protect you against the consequences of a lawsuit.

General Liability

This policy is the first line of defense for small business owners facing a lawsuit. It is designed to cover common exposures and minimize your financial risks, such as the costs of undergoing a lawsuit. If an employee slips and falls or a customer accuses your business of false advertising, your general liability will protect you against these claims. It will also help with any legal fees, court costs, or settlement costs that may result from a lawsuit.

Specialized Coverage

Depending on your industry, your business may need more specialized insurance protection. Your independent insurance agent can help you to discern the unique risks of your business and your industry, then design an insurance profile that helps to cover these risks. That is why working with a local, independent insurance agent is so valuable. Because they live and work in your region or even community, they understand the issues you face every day. Don’t let your business go underinsured. Speak with your independent agent to make sure you have all the coverage you need to keep your business running even in the face of a lawsuit.