Rolling The Dice in Uncertain Times?

Failing economy, layoffs, high unemployment have become a drumbeat these days. So how do companies react -- cut insurance costs by dropping or lowering limits on employment related paractices insurance? Wrong move.

Employees who are laid off or terminated have one outlet -- they were discriminated. Recent EEOC numbers confirm this trend.

• Discimination claims jumped 13%
• Age discrimination claims jumped 22.3%
• Retaliation claims jumped 18%

The cost:

• The average overall jury award is $252,000.
• The average settlement is $75,000.
• The employers cost of defense averages $120,000 per claim.
• If the employer loses add $200,000 the average cost for the employye's attorney.

So before you think about dropping EPL coverage or reducing your limits, think again.

Just to keep you from ignoring this advise ask your lawyer what Congress recently did regarding ADA and Fair Pay.