A type of insurance that helps shield individuals or businesses from the financial repercussions of being held liable for an incident that causes property damage, bodily injury, or other types of harm is known as liability insurance. Businesses and professionals, such as doctors, lawyers, and contractors, frequently use this kind of insurance to cover the costs of lawsuits, settlements, and judgments that may arise from their work.
In HR, liability insurance is especially important for businesses and organizations that frequently deal with customers or employees. Employment practices liability insurance (EPLI) is one kind of obligation protection that explicitly covers claims connected with work practices, like discrimination, wrongful termination, and sexual harassment. Since employment-related lawsuits can result in significant financial losses for even small businesses, this kind of insurance is essential for businesses of all sizes.