Fintech's Hidden Gem EPLI Insurance Bundle Unveiled
Financial Considerations and Real-World Benefits
The cost of EPLI insurance can vary significantly based on factors such as company size, industry, and claims history. However, the average annual premium for small businesses typically ranges from $800 to $3,0001. While this may seem like a considerable expense, the potential cost savings in the event of a lawsuit can far outweigh the initial outlay. For instance, the average cost to defend and settle an employment claim is approximately $160,0002.
Moreover, having an EPLI policy can enhance your company's reputation and attractiveness to potential investors and partners. It demonstrates a proactive approach to risk management and a commitment to maintaining a fair and compliant workplace. This can be a significant competitive advantage in the fintech sector, where regulatory scrutiny and investor expectations are high.