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Employment Practices Liability and Director’s & Officer’s Liability
Employment Practices Liability Insurance (EPLI) and Director’s & Officer’s (D&O) Liability coverage has seen considerable growth as both Public and Private Corporations are increasingly concerned with the activities, practices, and operations of their companies.
What does Employment Practices Liability Insurance (EPLI) and Director’s & Officer’s (D&O) Liability cover? Wrongful acts committed by company management such as wrongful termination, failure to promote, discrimination, or sexual harassment.
- Covers claims that may not be covered under a standard General Liability policy
- Provides coverage for sexual harassment in the workplace as well as sexual harassment and discrimination against third-party vendors
- Protects a corporation and its directors/officers against claims alleging malfeasance
- Private corporations can be protected from suits by competitors or customers for wrongful acts in the course of business
- Separate liability towers are available
- Coverage for punitive damages (where allowable by law) can be provided
- Additional coverage can be added including: crime, fiduciary liability, or kidnap and ransom
- Policy Term: Annual
- Limits of Liability: Coverage limits can be as low as $1M* per Claim/$1M Aggregate. Companies requiring higher limits can build towers up to $100M per claim or higher, if needed.
- Retentions: Vary for most companies based on the exposure and the cost. Often, EPLI and/ or Third-Party retentions are higher than the D&O retentions.
* Defense costs are included within the limits of liability.
Work with TSIB to put together a program that is right for your organization.