According to a recent report on a survey conducted by Chubb with private U.S. companies, the answer would be yes. Chubb says: “Even the best-run companies are vulnerable to EPL [Employee Practices Liability] charges because they engage in normal employment-related activities such as hiring, firing and promoting employees, all of which carry some EPL risk. And a company doesn’t have to do anything wrong to be sued.”
This short video clip offers a good overview of employment-related risks – how pervasive they are, what they cost, why they happen and how employers can use insurance to help mitigate risk.
Download an Employee Practices Liability infographic from Chubb that summarizes many of the points discussed in the video. In 2012, there were nearly 100,000 charges filed with the EEOC – and they can be costly – as this excerpt from the infographic shows:
You can also download a copy of Findings from the Chubb 2013 Private Company Risk Survey. The survey was conducted with decison makers at 450 private U.S. companies and covered a number of topics, including some that are of great interest to Human Resource managers: Employee fraud (page 7); Employment-related risks (page 13); Cyber Risk (page 16) and Workplace Violence (page 18).
When complex employee issues arise, ESI EAP offers member employers direct access to Certified Senior Professionals in Human Resources (SPHR) and senior clinical counselors. If you need an Employee Assistance Program give us a call: 800-535-4841.