Overcoming Challenges in Employment Practices Liability Insurance

Facing a Tough Market

  • EPL policyholders face persistent rate increases, tighter underwriting, and coverage restrictions. Learn how to navigate these challenges.
  • Recent Market Improvements

  • In 2023, rate increases moderated to 3-7%. Despite improvements, high-risk insureds still face challenges.
  • Trends Shaping the EPL Market

  • Increased regulatory scrutiny and new discrimination laws are driving EPL exposures. Stay updated on these critical trends.
  • Impact of AI on Employment Practices

  • AI in HR operations can lead to biases and EPL risks. Ensure AI systems are assessed for discriminatory algorithms to comply with EEOC guidelines.
  • Strategic Tips for Policyholders

  • Review policies, encourage diversity training, document all discrimination reports, and assess AI algorithms to mitigate EPL risks.
  • Plan for the Future

  • Most insureds will see modest rate increases. High-risk policyholders should enhance risk management measures to address emerging trends.
  • Connect with Knight Insurance Services for expert guidance and tailored Employment Practices Liability Insurance coverage. Contact us now to protect your company and employees!

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