If you are like many Detroit employers, you might be hosting or attending a business party today. Maybe you already had your office party. In that case, hopefully, you followed the tips that this post covers regarding how to try to avoid behavior that could result in legal issues post-holiday.
Having insurance to protect one's business is of vital importance. No one knows if or when a fire, theft or a number of other disasters may strike. There is another insurance, though, that has become more popular in recent years among business owners, and that is employment practices liability insurance -- also known as EPLI for short. This type of insurance may prove incredibly valuable to company owners in Michigan who are facing business litigation.
Representatives for Goldman Sachs, a major banking corporation, recently reported that litigation costs have significantly cut into its earnings this year. The company has faced severe scrutiny over mortgage-related legal matters. Despite setting so much aside to handle the business litigation, it is not uncommon for such issues to sting, even a little bit. While Goldman Sachs is known on a global front, there are lessons that can help business owners in Michigan protect their companies if faced with legal complaints.