In the past decade, Employment Practices Liability Insurance (EPLI) has become a well-recognized and highly available product. In the past few years, coverage options have also evolved and expanded. Insurance buyers, producers, and consultants throughout Florida have numerous carriers and policies from which to choose.
According to Randy Mrozowicz, vice president of underwriting at Monitor Liability Managers, “Pricing is similar to last year, or perhaps five percent lower.” While there appears to be consensus on the rates remaining fairly stable, coverage options continue to evolve. Eric Shapiro, vice president of Socius Insurance Services, advised that several coverages are available and important in today's market. “Coverage for third-party claims is readily available, and now coverage involving Fair Labor Standard Act claims is becoming much more prominent,” Shapiro said.
Third-party coverage usually refers to claims involving non-employees, which could mean vendors, customers, and the like as defined by the policy language. Some policies also include defense for Americans with Disability Act (ADA) claims.
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