PDF of six employment practices exposures: Employment Practices Exposures
The Employment Practice Liability Insurance (EPLI) market across the United States continues to be strained with increased claims, legal costs and settlements/judgements. In California, for example, deductibles that may have been $5k at some point are now usually $25k on average. The coverage cost and deductibles do vary by location so you might have the exact same business with the exact same number of employees in Washington state but their costs might be a fraction of the costs for a California or Texas or New York based business. Before even considering purchasing the insurance our recommendation is to be connected with an employment attorney and/or human resource consultant to be sure you have best practices already in place. Then, and only then, will you be in a position to properly apply for and obtain coverage. CAL Insurance knows the exposure, the right attorneys, the proper HR consultants and of course the proper insurance platforms/underwriters. Our partners at Travelers have provided a quick 2 page read on the exposures and increased settlement/judgements. We encourage you to review this piece and call your advisor at CAL to discuss this further.