Uncovered Claims Average $40k-$60k for EPLI

The expenses associated with lawsuits for employment practice issues can be staggering and are on the rise. Employers can face a variety of complaints and litigation over wrongful termination, discrimination, harassment in the workplace and retaliation. To be sued, a company owner wouldn’t even have to be in the wrong. To better protect company assets, it is essential to find the right Employment Practices Liability Insurance (EPLI) to cover defense expenses and losses involved with multiple employment-related claims.

What Is Employment Practices Liability Insurance Coverage?

EPLI is insurance that gives companies coverage against employment-related lawsuits such as claims of harassment, wrongful termination, discrimination or other work-related issues. Such lawsuits are increasingly common in today’s business environment. The most common claims filed are for retaliation, sexual harassment, discrimination and wrongful termination.

Many large corporations are well protected and can deal with nearly any type of employment-related lawsuit. Unfortunately, new or small businesses can be highly vulnerable to this type of claim. Many of these businesses lack an employee handbook or a legal department that can advise on proper procedures to follow regarding terminating, disciplining and hiring employees.

If you need help with a handbook and other HR matters, click here!

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What Does EPLI Cover?

Retaliation: Taking a negative action toward a person in response to a protected action or a decision they’ve made. Example – if an employee is terminated for telling a government agency about illegal activity at your company.

Sexual Harassment: Workplace sexual harassment is defined as “unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.” Example – a joking comment that is sexually descriptive in nature with an employee.

Discrimination: Making improper or illegal decisions regarding a person’s compensation, promotion or hiring. Example – if an unqualified job applicant is hired because they’re the boss’ daughter.

Wrongful Termination: Giving a person an inaccurate, unfairly low or excessively negative performance evaluation. Example – if you make up a false incident report about an employee on a review.

Wage and Hour Claims: URGENT – Coverage for wage and hour claims is not included by most policies. Please contact our business insurance team for more details.

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Do I Need This Coverage?

Employment Practices Liability Insurance comes in handy if your business:

  • Hires, promotes, demotes or fires employees or contractors
  • Evaluates employees or contractors
  • Offers raises to employees or contractors
  • Supervises employees or contractors
  • Monitors the communications of employees or contractors
  • Communicates to or about employees or contractors
  • Your industry is an environment where possible employee or contractor harassment could occur
  • Manages benefits for employees or contractors

 

Questions? Want to learn more? Here’s 4 easy ways to reach us:

Phone: 877-994-6787
Email: insure@siaonline.com
Text: 951-482-8144
Web: www.siaonline.com

PS Here’s a few words from one client that trusts Stromsoe Insurance Agency:

“I have dealt with Stromsoe Ins for 13 years.  They have been outstanding in customer service and finding me the best policies for my needs.  I regret having to say good-bye as I say hello to retirement.”
Robert Siever – Gasket Pro – Costa Mesa, CA – Client Since 2014

PPS Every policy is backed by our iron clad, 100% complete satisfaction guarantee. Ask for your copy today!

Put Your Mind at Ease with Top-Notch Rental Property Insurance

Rental property insurance, also called landlord insurance, covers the unique risks taken in renting out your home or condo for long periods of time. These policies include coverage for the structure, liability insurance protection and loss of rental income for landlords renting their property. Whether you are renting a house, a vacation home or an investment property to others, rental property insurance is an important safeguard against the financial risk associated with tenants living on your property.

What Does Rental Property Insurance Cover?

Rental property insurance coverage will vary from company to company, but policies will generally cover the dwelling, liability protection and loss of rental income. Many features of a landlord insurance policy are similar to a homeowners insurance policy, however, there is a cost savings for the landlord due to policy coverage differences.

Dwelling Coverage

Rental property insurance covers physical damage to the structure of the home itself. For example, it will cover damage to your walls and roof but not personal items of your tenant. Coverage will only extend to damage caused by a covered peril, and you should make sure to understand what type of perils are covered by your individual policy.

Coverage For the Landlord’s Personal Property

Unlike renters insurance, rental property insurance does not cover the personal property of tenants inhabiting the property. However, these policies can include coverage for items left onsite by the landlord. For example, if you left a lawnmower at your rental house and it is damaged by a fire, damage to the machine would be covered. On the other hand, if your tenant bought a personal air conditioning unit that is damaged by the same fire, the AC unit and the rest of the tenant’s property would not be covered by your rental property insurance.

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Liability Coverage

Liability coverage will protect you from the legal and medical costs associated with someone being injured on your rental property. If your tenant or a visitor is injured on your property, and you are deemed responsible for the injury, rental property insurance can cover these costs up to your policy limits. If you’re someone for whom the limits of this coverage are not sufficient to cover potential liabilities and you wish to increase your coverage, you could also purchase umbrella insurance for your rental property.

Loss of Rent Coverage

This coverage offers security against loss of rent payments if, because of a covered peril, the property you rent is uninhabitable due to damage from a covered loss. For instance, if fires are protected by your policy and fire damage makes your apartment unlivable, you are covered by rental income protection for the rental payments that your renters are no longer required to pay. In general, coverage will extend to a specified period of time, such as 12 months. Loss of rental income does not always come standard with rental property insurance, so you should check your policy before purchasing it if this type of coverage is important to you.

Optional Additions

  • Vandalism coverage: This usually covers deliberate physical damage to the home.
  • Ordinance or law coverage: This covers a loss of value or costs associated with enforcing local laws surrounding the repair of property caused by an insured loss. Make sure you include this protection.
  • Flood
  • Earthquake

 

Questions? Want to learn more? Here’s 4 easy ways to reach us:

Phone: 877-994-6787
Email: insure@siaonline.com
Text: 951-482-8144
Web: www.siaonline.com

PS Here’s a few words from one client that trusts Stromsoe Insurance Agency:

“Stromsoe Insurance is a reliable agency, it has provided fast and excellent service and made the process of finding the best homeowners insurance for our home.”
Betty Harrington – Murrieta, CA – Client Since 2014

PPS Every policy is backed by our iron clad, 100% complete satisfaction guarantee. Ask for your copy today!

Safeguard Your Business with Group Health Insurance Benefits

If you’re considering a group health benefits insurance plan for your company, it’s important to have all the information before you choose a plan. Group health plans provide benefits coverage to an employer group, usually comprised of company employees or members of an organization.

How Many People Do You Need?

When you buy group health insurance, you have to have a group. In other words, a single individual can’t sign up for this kind of plan. For small businesses there can be as few as two people in the group during the special open enrollment period. Otherwise, you need 70% participation, not including owners or spouses, from your company’s employees in order to get group insurance.

Why Is Group Health Insurance More Affordable?

Once the company chooses a plan, group members are given the option to accept or decline coverage. In certain areas, plans may come in tiers, where insured parties have the option of taking basic coverage or advanced insurance with add-ons. The premiums are split between the organization and its members based on the plan. Health insurance coverage may also be extended to the immediate family and/or other dependents of group members for an extra cost.

Group health insurance is sometimes lower in cost than an individual plan as the risk to the insuring a company is lower, since the plan is shared across more people.

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What is Considered a “Small” Employer Group?

When we talk about small businesses in the context of group health benefits, a small employer is one that has from 2 to 50 employees. A sole proprietorship with only one employee (the owner) isn’t eligible, and if you have more than 50 employees you are considered a large group. The large group platform operates a lot differently than small group.

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How Does the Shared Cost of a Group Health Benefits Plan Work?

The cost of a group health plan is shared by everyone in the group, by the employer and employees. In other words, these plans sometimes cost less because there are more people in them. Also:

  • With some groups, employees pay a portion of their own health insurance premiums
  • To meet group health requirements, the employer must pay at least 50% of the employee health insurance premiums

Retaining talent is more important than ever. Showing your employees that you care about their well-being and by truly offering to help them by providing the option of group health and benefits insurance, this gives your employees one more reason to continue their career as part of your team.

 

Questions? Want to learn more? Here’s 4 easy ways to reach us:

Phone: 877-994-6787
Email: insure@siaonline.com
Text: 951-482-8144
Web: www.siaonline.com

PS Here’s a few words from one client that trusts Stromsoe Insurance Agency:

“Dedicated to helping small businesses during these hard times. Great customer service and extremely knowledgeable in their products. Would highly recommend.”
Doris Hess – Relentless Brewing & Spirits – Los Angeles, CA – Client Since 2020

PPS Every policy is backed by our iron clad, 100% complete satisfaction guarantee. Ask for your copy today!

Changes for California Business Owners!

Early in January, the California Supreme Court ruled the change in factors to determine whether workers are employees or independent contractors, will be applied retroactively to its earlier ruling in April 2018. For more information, keep reading here. If you have questions on how this change will affect your Workers Comp, please give our Business Protection Coach, Ann Pederson, a call at 951-600-5751.

 

Questions? Want to learn more? Here’s 4 easy ways to reach us:

Phone: 877-994-6787
Email: insure@siaonline.com
Text: 951-482-8144
Web: www.siaonline.com

PS Here’s a few words from one client that trusts Stromsoe Insurance Agency:

“Stromsoe Insurance Team is amazing, if every company that I worked with would operate like them, Los Angeles truly would be called city of angels.”
John Melkonyan – Crispy Crust Pizza – Client Since 2005

PPS Every policy is backed by our iron clad, 100% complete satisfaction guarantee. Ask for your copy today!

Business Owners: Proprietary HR Program – Limited Time Offer!

Helping Your Business Change
For The New Reality…
What Is Your Business Doing To Prepare For The Changes?

 

Life has changed for all us.  In these times of uncertainty, more than ever, we are dedicated to the Core Values in our agency.  At the top of our Core Values is:

Servants Heart: Dedicated to serving our clients and communities!

For a limited time… Stromsoe Insurance Agency is giving our Business clients access to our proprietary HR Program … you will receive the first year at NO cost!

People Management Solution includes :

  • Personalized Handbook
  • Live HR Advisors (Phone, Email & Chat)
  • HR & Compliance Resource Library
  • Workplace Harassment Prevention
  • Workplace Safety
  • Extensive Learning Management Library

If you would like to take advantage of this limited time offer, please complete the application form.

If you have any questions or would like to learn more, please contact the Stromsoe Insurance Business Protection Team:

Phone: 951-552-7236

Text: 951-482-8144
Email: insure@siaonline.com

 

Don’t Take Our Word For It… Here’s What Clients Who Trust Stromsoe Insurance to Protect Everything They Work So Hard For Have To Say:

“No other organization we have ever dealt with has the depth of resources that Stromsoe Insurance and their teams have. For all of our businesses, every step of the way, they make sure our risk management, safety, HR and protection are all current. 100% recommend SIA!”
Douglas Fore- Hacienda La Puente School District – Client since 2016

“We are so pleased with your organization; it makes our job so much easier to have people like all of you to work with. I recently shared this with another local business owner, we both praise you guys to the hilt!”
Dorcas Shaktman – Assistance League of Temecula Valley Temecula, CA – Client Since 2012

Non-Profit Spotlight: Tiffany’s Gift

Our community is full of incredible people and organizations, out making a difference for others! In this month’s Non-Profit Spotlight we’d like to recognize Tiffany’s Gift!

Two lives were tragically taken in July of 2008 at the hands of a drunk boater. One of those lives was 14 year old Tiffany Amber Breslin who was struck by a boat while sitting on the Breslin family sea-doo. She suffered a traumatic brain injury and passed a day later. The non-profit, Tiffany’s Gift, was started in honor of Tiffany Breslin to raise awareness of drunk driving anywhere.

One of the ways that Tiffany’s Gift is making a difference in the community is by working with the local Police and the Sheriff’s Department to run the Every 15 Minutes program in local schools. They have run this program in Murrieta, Temecula, Oceanview, Corona and Fontana schools, to name a few.

The Every 15 Minutes program is a two-day program focusing on high school juniors and seniors, which challenges them to think about drinking, driving, personal safety, the responsibility of making mature decisions and the impact their decisions have on family, friends, their community, and many others. (California Highway Patrol)

With the added restrictions during COVID and the schools being taught virtually, Tiffany’s gift has had to pause their efforts to educate youth through the Every 15 Minutes program. COVID has also made fundraising extremely difficult. That is not enough to keep them down, their year was still full of great accomplishments.

For the month of February 2021 Stromsoe Insurance will donate $21 to Tiffany’s Gift for every referral that comes to our team!

Learn More about The 2021 Vision Referral Rewards Program HERE…

 

Work done on the public service video, “Nothing is That Important” brought on a nomination by The National Academy of Television Arts & Sciences Pacific Southwest Chapter for a regional Emmy Award! This PSA was produced by Endeavor Production Group in partnership with Tiffany’s Gift, highlighting the tough decisions children face when their parents drink and get behind the wheel.

The video depicts a short interaction between father and son played by Robert Rankin Walker and Murrieta Valley High School graduate Nick Delzompo. The son questions the father’s ability to drive while both contemplate the potential disaster. (Endeavor Production Group)

Donations are always welcome and will support their efforts to raise awareness about the effect of driving drunk anywhere. While Tiffany’s Gift greatly appreciates monetary donations, you can also support them by spreading the message. If you would like to get in contact to find out more about how you can get involved and support their efforts, email tgtiffanysgift@gmail.com or call (951) 609-4237. For more information you can also visit their website.

If you would like to help support Tiffany’s Gift, please engage with them using the following:

For the month of February 2021 Stromsoe Insurance will donate $21 to Tiffany’s Gift for every referral that comes to our team!

Learn More about The 2021 Vision Referral Rewards Program HERE…

Would you like to learn more about how we can help protect your non-profit , call your Stromsoe Insurance Total Protection Team at (951) 600-5751 or email insure@siaonline.com today!