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.