The welfare and anti-discrimination provisions clearly define what behaviour is permissible concerning your company's employees. As well as being very costly, conflicts in the professional environment are detrimental to your company's image and financial position.
In the case of the defence costs in the event of an order for the payment of compensation, companies are recommended to take out employment practice liability (EPL) insurance. EPL insurance protects your company, subsidiaries, directors, managers and employees against the financial consequences of such damages claims.
Pay careful attention to the policy conditions
EPL policies vary a lot. Most of them provided cover for these six losses:
- Prevention, advice and support during a crisis
- Investigation and defence costs
- Reputation restoration
- Costs of replacing an employee
- Costs for apologising