Ecommerce Brands Uncover Secret EPLI Insurance Renewal Strategy
Real-World Examples and Statistics
According to a study by the Equal Employment Opportunity Commission (EEOC), the average cost of an employment-related lawsuit is approximately $160,0001. This statistic underscores the importance of having robust EPLI coverage. Furthermore, businesses with comprehensive risk management strategies have reported a 20% reduction in EPLI premiums2.
For instance, a mid-sized ecommerce brand that implemented a comprehensive employee training program and updated their employment policies saw a significant decrease in claims. As a result, they were able to negotiate a 15% reduction in their EPLI renewal premium, saving thousands of dollars annually3.