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Why EPLI Insurance is Crucial for Contractors
Contractors operate in dynamic environments where workforce changes are frequent, and employment practices are under constant observation. EPLI insurance is critical in shielding your business from the financial risks associated with employee lawsuits, which can result in costly settlements and legal fees. Statistics show that the average cost of defending and settling an EPLI claim is around $160,0001. Without adequate coverage, these expenses can cripple a contractor's financial stability.