“A variety of small franchise house owners have EPLI as a part of their BOP coverage,” Murphy mentioned. “However sadly, these should not full insurance policies. There are sometimes sublimits, or they’re endorsed onto a BOP and the restrict for EPL may be very small. [After all], generally it takes a few calls to a lawyer to assist defend the declare and the sub-limit is exhausted. Similar to the remainder of the financial system, the price of claims has elevated over time, from the associated fee to defend to the common settlement cost. So, a $50,000 or $100,000 sub-limit in a BOP is simply not adequate anymore.”
