Ohio Employment Practices Liability Insurance Coverage

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We work for you to provide the security and peace of mind you deserve so you can spend more time running your business and less time worrying about your insurance. It's a simple philosophy, but one that many Ohio businesses have come to expect from the licensed advisors at Simon Insurance Agency. We appreciate these lofty expectations, we look forward to exceeding them for our current clients, and we continually strive to help prospective clients increase their expectations of their insurance protection.

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Ohio Employment Practices Liability Insurance

As the number of employment practices claims have increased, so have efforts to find coverage for employment-related claims under existing policies. This included the Commercial General Liability Policy. These efforts were not very successful. The insurance industry's answer was to develop employment practices liability insurance (EPLI). New insurance coverage often encourages more claims. In contrast, EPLI has reduced the number of charges made against employers. This is due to an awareness of employment-related problems and the efforts to control them.

Insurance companies have tried combination policies before. Insurers joined EPLI to Directors and Officers Liability policies. But this did not become the common approach to employment practices insurance. The trend went to separate policies. This included Employment-Related Practices Liability coverage from ISO. This can be used with your firm's Comprehensive General Liability policy. Endorsements have been offered to add EPLI to certain Business Owners Policies.

If there is a coverage trend today, it leans towards a management liability policy. This includes:

• Directors and officers coverage
• professional liability
• EPLI

Today you'll either have the ISO coverage form or a separate EPLI policy.

Just What Are Employment-Related Practices?

EPLI covers the following:

• acts of wrongful termination
• demotion
• negative evaluation
• discrimination based on factors such as sex, race, and religion.

These risks are usually preventable through management risk control efforts. Insurance companies offer risk management help. They can train management and employees to prevent poor employment practices.

Tip. Compare EPLI policies for inclusion of the employment practices you want covered by insurance. In today's market, the available EPLI policies vary widely in the covered practices.

An EPLI policy probably will exclude:

• civil or criminal fines
• fraud
• malicious acts or omissions
• Workers Compensation situations, and
• Americans with Disability Act problems (often).

If ADA problems are covered, the costs of creating proper conditions for the disabled won't be covered.

Unusual Features of EPLI

Defense costs may or may not be covered by EPLI. The ISO coverage form provides for a Co-Payment feature. This requires the insured to pay a percentage share of defense costs. You can find this feature on the Declaration page. In some policies, the defense costs are included in the policy dollar limits. This reduces the dollars available for claim payments.

Tip. Defense costs can accumulate quickly. Consider how your policy covers them.

A deductible is a common EPLI feature. Deductibles, co-payments and similar devices encourage employers to work on loss prevention.

Another area of concern is "who is insured." The firm's covered, no question. But the stockholders or the general employees? Not as likely. The Directors and Officers policy may cover stockholders. Non-supervisor or manager types are on their own if sued. However, it is possible to cover stockholders and general employees. How? Use an endorsement.

You already know that EPLI policies are "claims made" policies. So pay careful attention to the extended reporting period allowed for reporting claims. A short period can be built in an EPLI policy. You also have the opportunity to buy a longer time period for reporting.

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We are here to work for you so that is exactly what we will do. Once we have all the information we need, we will carefully look over all the options that are available to find out the best coverage for the best rate that will fit your needs. Then we will call you back to let you know how much money you saved by switching your business to Simon Insurance Agency.

Thanks for inquiring about insurance through Simon Insurance Agency.

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