Employee Driven Lawsuits & Employment Practice Liability Insurance
October 21, 2021
Written by Bill Butler CIC, CISR, CWCA
Employee Driven Lawsuits
These can come at any time even if you didn’t do anything wrong but they can also have these occur if you don’t take action like the practice in Oregon.
Settlements average $40,000 – $50,000 but if you go to court and there is a jury award those can be much much more!
Having protection in place is key to cover your practice.
Employment Practice Liability Insurance
Employment Practice Liability Insurance or EPLI can protect you from employee driven lawsuits. Sometimes this coverage can be added to your current business insurance policy but often times the coverage limits are lower and or limited. By purchasing a stand alone EPLI policy you can purchase higher limits of coverage usually starting at $1,000,000 and they go up from there.
Many stand alone EPLI policies also provide coverage for the following:
- Any actual or alleged act of “harassment”
- Any actual or alleged act of “discrimination”
- Any actual or alleged wrongful dismissal, discharge, or termination (either actual or constructive of employment)
- Any actual or alleged violations of the Fair Labor Standards Act (wage and hour)
- Employment-related misrepresentation
- Employment-related libel, slander, humiliation, defamation, or invasion of privacy
- Wrongful failure to employ or promote
- Wrongful deprivation of career opportunity, wrongful demotion, or negligent evaluation
- Wrongful discipline
- Vicarious liability for intentional acts
- Punitive damages
- Coercion or humiliation as a consequence of race, marital status, gender, age, physical and/or mental impairments, pregnancy, sexual orientation, or any other protected class or characteristic stablished by any applicable federal, state, or local statute
An added benefit of purchasing Employment Practice Liability Insurance are tools to prevent a claim from occurring and often you can access legal advice in the event of potential claim to assist you in handling the situation properly.
To protect your practice from Employee Driven Lawsuits contact the insurance agents at Butler Vet Insurance for more information on purchasing an EPLI Policy.
Workers Compensation – The Price is Right!!!!
October 20, 2021
Written by Bill Butler CIC, CISR, CWCA
Certified Work Comp Advisor
Paying too much?
We have found that most Veterinarians are overpaying on their Workers Compensation premium by 22%. There are a variety of reason for this…
- incorrect class codes
- incorrect payrolls
- working with an agency who doesn’t understand your industry
- being placed with a carrier that over charges for Vet clinics
In most cases the Veterinary Practices we work with didn’t have a clear understanding of how their workers compensation premium is calculated, what an experience modification is and how that affects the premium prior to working with us.
Your payroll multiplied the rate per $100 of payroll is how the base premium is calculated and in Minnesota every insurance carrier charges a different rate per $100. Working with a agency that understands your industry is the first step in making sure you are getting the best value for your Work Comp policy.
How do you Know if You Are Paying Too Much?
If your rate of remuneration is more that $1.40 you are paying more that you should for Workers Compensation. If you are claims free or have lower claims in the last 3 years you shouldn’t pay more that $1.20 per $100 of payroll.
To see what you could be paying for Workers Compensation use our Quick Quote Tool and in less than 3 minutes you can get a Workers Compensation quote. We can work with you to finalize it once submitted to see if we can save you 22% with one of our preferred carriers.
The insurance professionals at Butler Vet Insurance would love to assist you in making sure you are paying the right price for your Workers Compensation Insurance.. For more information Contact Us.
For information on other Workers Compensation Topics