In 2011, buyers enjoyed a relatively soft market for their Employment Practices Liability Insurance (EPLI). But the pricing pendulum is swinging this year, with insureds seeing, in some cases, increases inching into double-digit territory.
For all businesses, regardless of size, decreases in EPLI pricing last year outweighed increases. According to insurance broker Marsh's most recent benchmarking trends report on EPLI, 44 percent saw their EPLI insurance decrease by an average of close to 2 percent, while 35 percent saw no change; just 21 percent saw their rates increase.
Larger companies, especially, benefited from carrier competition on their EPLI risk in 2011, according to the Marsh report: 58 percent of large organizations (4,000 or more employees) received rate decreases in their coverage last year. That translated into close to 4 percent average rate decrease for the year. Only 14 percent of large companies saw rate increases; 28 percent saw no change.
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