The COVID-19 pandemic has forced employers across the country to rapidly make numerous and significant decisions about how to manage their business in this unprecedented time. Employers have had to quickly develop and implement policies and procedures addressing remote work, layoffs, furloughs, pay cuts, workplace conditions, and a host of other issues. Not surprisingly, we’re already starting to see COVID-19-related lawsuits being filed against employers.
The financial damage of employee lawsuits can be dramatic. The cost of settling out of court averages $75,000, and the average jury award hits $217,000 if you go to court and lose.
It’s not just wrongful termination that can end in a lawsuit, you can be sued for many reasons. Despite all of these scary numbers, roughly 7 out of 10 businesses don’t carry EPLI insurance. This can be an expensive mistake and we just don’t want you to be among those who did not obtain coverage.
We appreciate your continued business and hope you and your family are safe and well.