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| In today's litigious environment, you must manage employment-related risks. |
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Employment-related risks are among some of the most potentially damaging exposures. Often centering around sexual harassment, wrongful termination and discrimination, employers of all sizes face potential damage from employment practices liability (EPL) lawsuits, which can not only result in financial disaster, but irreparable injury to reputation and brand image as well.
According to the Equal Employment Opportunity Commission, enforcement and litigation statistics released on 26 February 2003, the number of filings alleging employment discrimination totaled 84,442 in 2002 — a 4.5 percent increase over the previous year and the highest total since 1995. Despite these disturbing statistics, there are steps that can be taken to mitigate the impact of EPL risks and protect a company's bottom line.
What Will You Say When They Ask What Happened?
- Do you have adequate procedures in place to proactively manage employment-related risks?
- Do you have a number of employment related lawsuits pending? In the past, has your company won or lost such suits?
- Do you know how to reduce your overall exposure to such liability?
- Is your company preparing for a reduction in workforce or plant closure?
- Are your employment and training practices up-to-date?
Who's Looking Out for You?
Through Marsh's Employment Practice Liability practice, insureds can choose from a menu of comprehensive coverage offerings that combine insurance and risk management techniques designed to:
- Lower the cost of transferring employment practice risk
- Protect the company against losses from employee lawsuits
- Reduce the risk of costly litigation
Marsh has service offerings designed specifically for large and multi-national corporations, mid-size companies, law firms, and advertising agencies.
Marsh's Workforce Strategies practice can help you educate and train your employees to recognize and prevent employment practice liability claims. Training is focused on the most common and costly areas of litigation harassment, discrimination, and wrongful termination. If you are planning for a reduction in force or plant closure, Marsh consultants can help you mitigate your risk exposure by developing the right process and procedures as well as communication strategies.
If you have any questions or would like additional information, please contact us.
If you are seeking information about insurance and related services, please visit marsh.com.
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