AXIS INSURANCE SERVICES, LLC: The Employment Practices Liability Insurance Specialists
A hostile working environment, workplace discrimination, and accusations of sexual harassment continue to be the top trending employment practices litigation cases, with companies increasingly facing tougher regulatory investigations and actions— no matter what size organization you are. According to Trusted Choice, a leading insurance association, employee lawsuits have increased by 400% during the past 20 years, with wrongful termination suits skyrocketing more than 260%. About 41.5% of these employee lawsuits are brought against private companies with fewer than 100 employees. Also, the financial damage of employee lawsuits can be significant, with the cost of settling out of court averaging $75,000, and the average jury award hitting $217,000 if the case goes to court and the employer loses. Even those businesses with strict employment guidelines can find themselves facing an employment practices claim.