Waypoint Insurance - Risk & Business Magazine Waypoint Insurance - Risk & Business Magazine | Page 27

SINCE THE FINANCIAL CRISIS OVER
A DECADE AGO, EMPLOYMENT
PRACTICES CLAIMS FILED AGAINST
EMPLOYERS HAVE SKYROCKETED.
EVERY EMPLOYER FACES THE RISK
OF AN EMPLOYMENT PRACTICES
CLAIM, REGARDLESS IF YOU
HAVE FIVE EMPLOYEES OR 500 .
Directors and Officers claims and Employment Practices
claims or if you have segregated limits for each type of
claim and defence costs. A professional brokerage firm
such as Waypoint, with a technical broker experienced in
professional lines, is your single best bet in reviewing this
intricate coverage.
Employment Practices Liability Insurance protects a
business from lawsuit defense costs that are related to
the employer and employee relationship governed by your
regulatory body. It covers employment discrimination,
harassment, defamation, and retaliation. It provides
protection against claims for the failure to hire, failure
to promote, and wrongful termination. If properly
underwritten, it may also cover leased, seasonal, and
independent contractors.
There are various controls and protocols businesses can put
in place to avoid costly Employment Practices lawsuits, but
no system is foolproof.
Partnering with an insurance broker such as Waypoint, with
expert knowledge in Directors and Officers liability coverage,
is an excellent start to understanding how your business
could be affected by a potential Employment Practices
Liability suit. Prevention and mitigation measures combined
with an adequate amount of insurance coverage is the best
method to alleviating any detrimental
impact on your corporation.
Jessica van der Wal works with the
North Vancouver commercial team.
She has a strong and dedicated
focus on client service and has
spent countless hours developing
the skill set to support that focus.
BY: JESSICA VAN DER WAL
Having experience in a multitude
of industries from manufacturing, municipalities and mining to
small retail shops she has the ability to service many different levels
of clients and accounts. Contact Jessica, or any one of our Waypoint
Specialists at 310 – 8442 or visit us online at waypointinsurance.ca
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