One way to curtail EPLI claims is to prepare and train personnel to better understand the situations that can put your company in jeopardy of facing costly lawsuits. Many EPLI claims are due to lack of written human resources procedures or failure to adhere to the ones that are in place. Adopting best practices and formalized company employment policies may help forestall employee claims, however, employment practices claims are increasingly viewed as risks that jeopardize corporate assets and therefore need to be insured. Although the rates in the EPLI market are mostly level overall, some prime risks are seeing lower rates at renewal. The following have responded to the survey and indicated they are a market for . They include: 1. All Risks Ltd ...
Throughout the 1990s (EPLI) was considered the sexiest coverage, creating the greatest opportunity for new premium, according to Rich Robin, executive vice president at NAS Insurance Services. But all who were in the market through that period learned that EPLI was - and it still is - a volatile coverage with high frequency and severity of claims. By the beginning of 2002, according to Robin, rate increases became standard and well understood. Most carriers tightened their wording to give them more control in handling claims. Robin says that the current marketplace has seen very few new entrants. Markets that are presently underwriting coverage are the same ones that weathered the soft market. Some classes remain difficult, including almost any k...
There are two primary risks that differentiate bars and nightclubs from restaurants. The average restaurant finds its most common claims when patrons slip and fall, chip a tooth while eating, or became ill after eating. Bars and night dubs, on the other hand, identify assault and battery as well as liquor as the two biggest liability concerns. Given the potential for liquor and assault and battery claims, bars, nightclubs and restaurants are advised to use surveillance cameras inside and outside to monitor activity. In addition, security practices are understandably important. Employment practices liability insurance (EPLI) is an essential coverage that defends or indemnifies against employment-related suits. With respect to EPLI, more bars, nightclubs and restaurants are increasingly r...
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