Workplace discrimination claims are at an all-time high, and small-business owners feel vulnerable. With a difficult economy and new employment laws making charges and lawsuits more likely, employment practices liability insurance is evolving from a high-priced option to an affordable necessity for smaller companies.
A recent survey of small-business owners conducted for Hartford Steam Boiler found that 66 percent were concerned their employees would file an employment-related charge against them.
At the same time, a recent industry study by MarketStance in Middletown, Conn., indicates that only 1.1 percent of small businesses have purchased EPL insurance. (See related sidebar “MarketStance Statistics.”)
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