SPECIALTY INSURANCE SOLUTIONS
WHAT IS IT?
Employment Practices Liability (commonly referred to as EPL) is insurance that protects a company, including its directors, officers and employees, against claims made by the organization’s employees or prospective employees.
An EPL policy responds to a variety of claims that arise out of the organization’s employment practices, such as:
- Employment-related libel and slander
- Employment-related misrepresentation
- Failure to provide or enforce adequate workplace or employment policies
- Sexual or workplace harassment
- Wrongful demotion
- Wrongful discipline
- Wrongful dismissal
- Wrongful failure to employ or promote
Our EPL offering is only one product in our suite of Specialty Insurance Solutions. When coupled with our D&O, Fidelity and Professional Liability products, it adds another layer of protection against claims arising out of operations of the organization.
Trisura also provides the utmost in flexibility giving the insured the ability to have dedicated EPL policy limits, or the option of sharing the limit with other coverages, in order to save on the cost of the overall insurance package solution.
- Employment Practices Liability Insurance — Including Entity Coverage
- Employment Practices Liability Insurance — Non Entity Coverage
- Third-Party Discrimination Liability Coverage
We underwrite all risks on an account by account basis, taking into consideration the unique risk characteristics of each applicant.
We do not have minimum premium thresholds.
FIVE THINGS YOU SHOULD KNOW ABOUT EMPLOYMENT PRACTICES LIABILITY
1.You’re only one off-colour joke away from being sued.
Most organizations feel that they treat all of their employees well and with respect, but everyone has a bad day. Every company has an employee who can be a bit too brash, and we are all at the mercy of a struggling staff member looking for an excuse to right a perceived wrong.
2. The employment law landscape is rocky and complicated.
Our employment practices are governed by a myriad of laws, bylaws, regulations and case law. On any given day, your HR staff may find themselves involved in issues related to whistle-blowers, discrimination charges against disabled persons, sexual harassment claims, or an executive crying foul over a misrepresentation in their compensation plan. EPL insurance steps in when your HR department has done everything they can to mitigate an unfortunate situation.
3. The big three still represent most claims.
According to an EPL survey conducted in 2008, race, sex and age discrimination are the most common charges, with national origin, disability and religion rounding out the list.
4. It takes two to fight.
This same survey shows that a full 64% of all complaints came to light AFTER the employee complained to their HR department or manager. In these cases, the individual suffered retaliation by co-workers or management for making their original complaint.
5. The cost of EPL Coverage is lower than you think.
A common misconception is that only the very large corporations purchase an EPL policy due to its high cost. When the product was first introduced in 1991 this was the case, but not anymore. In today’s marketplace an organization can secure an EPL policy that will cover this exposure for a nominal price.