Today, employers must have effective loss controls in place before they purchase employment practices liability insurance. And yet, the current hardening of the market for such coverage shows us that rates and retentions are increasing after years of struggles. COVID-19, #MeToo, and new laws are only part of the reason that this market is hardening.
Today’s insurance professionals need to offer a point of difference to their clients by providing risk-management help, along with explanations of insurance coverage, defense payments and coordination of other insurance policies. Do you know all the common laws (workplace torts), statutory employment laws, and unlawful discrimination theories that could affect an employer’s liability for an EPLI claim?
Risk management for your clients
Many small- and mid-sized businesses do not understand that they are exposed to loss by simply employing workers. They assume that their current policies and procedures are enough to ward off claims, or that they are too small to ever be the subject of an employment practices complaint.
This simply isn’t true.
Employers are exposed to EPLI claims when they hire new employees, when they supervise employees, and when the employee terminates his or her employment. Additionally, they are exposed to possible claims depending on how they run their employee benefits programs.
Do you know what coverage options are available under the liability forms? Do you know the types of specific employee practices liability coverages that are available on these forms? And, what can an employment practices liability insurance policy cover?
You can learn more
You can learn more about these potential exposures when you register for Loss Control Plus Insurance Coverage for Employment Practices Liability taught by Bettye Hutchison, CRM, CIC, CPCU, ARM, CPIA, AAI, TRIP, on Thursday, Nov. 18, 2021, from 9 a.m-1 p.m. This online, continuing-education course will answer all the questions in this article by addressing the three sources of liability for employers, loss control services available by insurers, and the important policy provisions found in an employment practices liability policy. This class has been approved for CE for licenses in Connecticut, New Jersey and New York.
For more information, or to register for this class, log on to the PIA Northeast education schedule.
Bettye Hutchison, CRM, CIC, CPCU, ARM, CPIA, AAI, TRIP, is president of Central Insurance Services in Adelphi, Md., and former vice president of Truckwriters of Colorado Inc., in Lakewood, Colo. Currently, Hutchison is taking a break from her leadership roles in the agency business to focus on teaching and consulting. She has a long list of accomplishments and contributions to the National Alliance, as well as to the state associations for which she instructs. As a result of these accomplishments, Hutchison has earned a position as a charter member of the Distinguished Faculty of the National Alliance for Insurance Education & Research. She also serves as an educational consultant for CIC, CRM, CISR and Ruble seminars.