While employees are considered your greatest asset, they can also pose some significant risk to your company. One such risk is suits arising out of employment related allegations such as sexual harassment, wrongful termination, and discrimination. Although statistics show that suits from employment practices claims are rising, it is a known fact that most of these cases never reach a courtroom and as such, never make the news. As such, the true scope of claim activity is not entirely known, but it is safe to say that it is far more prevalent than most people realize. Defending these claims can be very expensive, let alone the awards associated with an unfavorable ruling. Employment Practices Liability Insurance is fast becoming an "automatic" coverage that companies are purchasing to protect themselves from such accusations.
Thomas Gregory Associates has had a long history of making clients aware of employment related risk exposures. We have worked closely with the insurance industry in identifying the best risk management strategies to mitigate employment practices claims, and pass this along to our clients.