Insurance Program Results
Claims Boost EPL Pricing
Costly EEOC claims will likely allow carriers to increase both pricing and retention levels for employment practice liability into the coming year. EEOC charges peaked in 2011 and have declined since then, but still remain above the 90,000 per year range. Although a fraction of these charges are brought to court or settled, the charge itself can incur hefty defense costs. A rise in discrimination claims in relation to disabilities and age also hasn’t helped. Future obesity and LGBT discrimination claims are also expected to be in the pipeline. Claims within higher education are also rising due to the heavy regulations, varied salary structure, Title IX, students working as employees and a myriad of other EPLI claims.
Look for top EPLI carriers AIG, Alleghany, HCC, Chubb and Travelers to be the most likely to revise rates, coverage and terms and conditions due to their large premium volume within the segment. Premium volume for the segment will correspondingly rise above the current $1.8 billion figure. Travelers has been the most active in raising rates during the last few months while many carriers have already eliminated wage and hour coverage because of the hefty losses associated with it. Carriers will push retentions higher as well, especially for high-risk firms with a large number of employees and for firms with extensive loss histories. (10/20/14)
Employment Practices Liability
Administered By: Monitor Liability Managers
Distribution: Carrier Direct
| Industries: |
Employment Practices |
|---|
Carriers: Admiral Insurance Co., Berkley Insurance Co., Carolina Casualty Insurance Co.
Coverage: Employment Practices Liability (EPL), Excess, Umbrella/Excess
Limits: $250,000 - $5 million (Primary or excess coverage available.)
BeazleyOne Employment Practices Liability (Package Policy)
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Employment Practices |
|---|
Carriers: Beazley Insurance Co. Inc.
Coverage: Employment Practices Liability (EPL)
Limits: up to $20 million
ExecSurance ML
Administered By: CFC Underwriting
Distribution: MGA
| Industries: |
Directors & Officers (D&O), Employment Practices |
|---|
Carriers: Lloyd's of London
Coverage: Corporate Liability, Crime, Cyber Liability, Directors & Officers (D&O), Employment Practices Liability (EPL), Excess, Fiduciary Liability, Kidnap, Ransom & Extortion (KRE), Umbrella/Excess
Limits: up to $5 million
PRO
Administered By: CFC Underwriting
Distribution: MGA
| Industries: |
Employment Practices |
|---|
Carriers: Lloyd's of London
Coverage: Commercial Auto, Commercial Property, Employment Practices Liability (EPL), Excess, General Liability, Products & Complete Operations Liability, Umbrella/Excess
Limits: zero - $5 million (A range of reinstatement options available. Deductibles starting from $2,000. Minimum premiums begin at $200. )
Employment Practices Liability Insurance
Administered By: Rockwood
Distribution: MGA
| Industries: |
Employment Practices |
|---|
Carriers: Protective Insurance Co.
Coverage: Employment Practices Liability (EPL)
Limits: up to $5 million (Aggregate), up to $5 million (Per occurrence)
Directors & Officers Liability
Administered By: XL Catlin (Formerly Catlin)
Distribution: Direct/Broker
| Industries: |
Directors & Officers (D&O), Employment Practices |
|---|
Carriers: Catlin Specialty Insurance Co., Catlin Syndicate 2003, XL Catlin Insurance Co., Inc.
Coverage: Directors & Officers (D&O), Employment Practices Liability (EPL), Excess, Fidelity, Fiduciary Liability, Umbrella/Excess
Limits: up to $15 Million (Combined Coverage)
Employment Practices Liability
Administered By: Argo Pro
Distribution: Direct/Broker
| Industries: |
Employment Practices |
|---|
Carriers: Argo Group US Inc.
Coverage: Employment Practices Liability (EPL), Excess, Umbrella/Excess
Limits: Up to - $15 Million
Miscellaneous Errors & Omissions
Administered By: NAS Insurance Services
Distribution: MGA
| Industries: |
Advertising/Printers/Authors, Answering Services, Arbitrators & Mediators, Auctioneers, Auto/Car Dealerships, Back Office Services, Commercial Real Estate Manager/Director, Consultants/Consulting Risks, Court Reporting, Disaster Recovery, Employment Practices, Events and Event Planners, Executive Coaches/Mentors, Farm/Ranch/Agribusiness, Graphic Designers, Interior Designers, Landscape Design/Landscaping/Lawn Service, Miscellaneous Risks, Mortuary/Funeral Services/Directors, Notary Public, Research/Research Organizations (Clinical, Etc.), Security/Investigation/Alarm Systems, Tax Preparers, Training & Certification, Translation Services, Travel Agencies/Tour Operators, Witness Services |
|---|
Carriers: Lloyd's of London
Coverage: Employment Practices Liability (EPL), Errors & Omissions (E&O)
Limits: up to $5 million
Defense Base Act Program (DBA)
Administered By: Chubb Ltd. (Formerly ACE Group)
Distribution: Carrier Direct
| Industries: |
Architects & Engineers (A&E), Civil Engineering/Surveyors, Colleges & Universities, Consultants/Consulting Risks, Corporations, Employment Practices, Project Managers, Schools, Schools (Adult Education), Technology Risks |
|---|
Carriers: ACE Group
Coverage: Accident & Health, Accidental Death & Dismemberment, Business Travel Accident, Employment Practices Liability (EPL), Excess, Political Risk/Terrorism, Umbrella/Excess
Limits: up to $1 million (Employer's liability- For DBA coverage), up to $1 million (Repatriation)
Excess Workers Compensation
Administered By: Chubb Ltd. (Formerly ACE Group)
Distribution: Carrier Direct
| Industries: |
Employment Practices, Workers Compensation |
|---|
Carriers: ACE Group
Coverage: Employment Practices Liability (EPL), Excess, Umbrella/Excess, Workers' Compensation
Limits: - - - (Limits up to statutory for select risks)
Hospital Indemnity Insurance
Administered By: Chubb Ltd. (Formerly ACE Group)
Distribution: Carrier Direct
| Industries: |
Employment Practices |
|---|
Carriers: ACE Group
Coverage: Accident & Health, Employment Practices Liability (EPL)
Limits: - - - (Limits based on occupational code)
International Insurance
Administered By: Victor O. Schinnerer
Distribution: MGU
| Industries: |
Corporations, Employment Practices |
|---|
Carriers: ACE Group, The Navigators Group Inc.
Coverage: Accident & Health, Accidental Death & Dismemberment, Business Travel Accident, Commercial Auto, Employment Practices Liability (EPL), General Liability, Kidnap, Ransom & Extortion (KRE), Political Risk/Terrorism
Limits: up to $1.5 million (AD&D- aggregate), up to $1 million (General liability- per occurrence), up to $2 million (General liability- aggregate), up to $1 million (Commercial auto), up to $50,000 (Kidnap & Extortion), up to $1 million (Employer's liability)
Occupational Accident Insurance
Administered By: Chubb Ltd. (Formerly ACE Group)
Distribution: Carrier Direct
| Industries: |
Corporations, Employment Practices, Private Companies |
|---|
Carriers: ACE Group
Coverage: Accident & Health, Employment Practices Liability (EPL), Excess, Umbrella/Excess
Limits: $100,000 - $500,000 (Combined Single Limits for all benefits payable to an employee as the result of a single accident.), up to $500,000 (Accidental Death and Dismemberment Benefits available up to $500,000 subject to 10 times annual salary.), $100,000 - $500,000 (Per covered employee.)
Professional Employer Organization
Administered By: Zurich
Distribution: Carrier Direct
| Industries: |
Employment Practices, Workers Compensation |
|---|
Carriers: Zurich
Coverage: Employment Practices Liability (EPL), Excess, Statutory Liability, Umbrella/Excess, Workers' Compensation
Limits: up to $1 Million (Statutory Liability), up to $1 Million (Employer's Liability), up to $1 Million (Workers Comp)
Texas Employers Excess Indemnity Coverage
Administered By: Chubb Ltd. (Formerly ACE Group)
Distribution: Carrier Direct
| Industries: |
Employment Practices, Workers Compensation |
|---|
Carriers: ACE Group
Coverage: Employment Practices Liability (EPL), Excess, Umbrella/Excess, Workers' Compensation
Limits: up to $15 million