Top 5 Reasons to Have Employment Practices Liability
Gyms and fitness clubs have a lot of unique liability concerns. On top of those concerns, they still need to maintain levels of insurance for regular business practices such as employment practices liability.
- A Majority of claims are related to Employment Practices liability against companies with fewer than 100 employees.
- Employers are being constantly sued by former and current employees every year.
- The financial ramifications of not having Employment Practices liability can be crippling, especially for smaller companies because they do not have the operating budgets to handle the increasing defense costs, let alone settlements or judgments, of an uninsured claim.
- The average award to plaintiffs is around $325,000.
- Employment Practices Liability covers not only ACTUAL, but also ALLEGED acts of discrimination, harassment, retaliation, wrongful termination and other similar acts.
Using and independent insurance agent that has access to multiple companies like Buck & Affiliates Insurance will help place the best coverage for the best available rate for your Gym Insurance Program.