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Oracle Tips by Burleson |
Contemplate Acquiring Insurance
Employment-Practices Liability Insurance (EPLI) indemnifies businesses against the costs of
employment-related litigation. Wrongful termination lawsuits can be
very costly to defend, making EPLI an attractive option for minimizing
litigation costs.
Insurance companies determine the EPLI premium
based on the:
FAST FACT
48 percent of survey
respondents amongst 100 Human Resources executives indicated they
have purchased Employment-practices liability insurance.
- EPL Survey Report,
Assurex International, the University of Miami and the American
Mediation Institute, 1998.
Conditions of the EPLI policy and arrangement
that need to be addressed by the applicant company include:
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Determine if all or specific claims will be
covered.
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Define which party selects the attorneys.
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Set forth the party that has the authority to
settle the lawsuits.
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Ensure that those who handle the claims in the
insurance company are attorneys themselves and experienced in
employment law.
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Acquire coverage for punitive damages if allowed
within the company’s State of residence.
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Determine if pre- and post-judgment interest and
premiums for appeals are covered.
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Outline the conditions by which the insurance
company may cancel the policy.
The above book excerpt is from:
You're Fired!
Firing Computer Professionals
The IT
manager Guide for Terminating "With Cause"
ISBN 0-9744486-4-8
Robert Papaj
http://www.rampant-books.com/book_2005_1_firing.htm |
