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Management Liability

Employment Practices Liability Insurance

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Employment risks are increasing every year. More employees are bringing actions for such things as discrimination, sexual harassment and wrongful termination. Monarch will help you through the multifaceted issues you need to know to get the right coverage.

We specialize in Employment Practices Liability Insurance and have access to over 30 A-rated insurance carriers. Our specialization in Employment Practices liability means we quickly provide the cost-effective coverage retail brokers rely on. We work fast, because we know your time is valuable. Our proven expertise and experience are focused on meeting your needs, not the other way around.

Fiduciary liability insurance protects individuals who manage employee benefit plans against claims of mismanagement. Fiduciary liability insurance protects against unintentional failings or lapses by a company and its employees. It covers the legal expenses of defending against a claim, as well as any financial losses the plan may have incurred. Fiduciary liability insurance is different from ERISA fidelity bonds, which protect plan participants against fraud, theft, and other deliberately fraudulent acts.

Fiduciary Liability Coverage is designed to protect administrators and executives from claims stemming out of the mismanagement of employee benefit plans. Any company offering a 401(K), pension plan, medical, life or disability insurance to their employees could be at risk.

The most frequent types of claims covered under such policies include wrongful termination, discrimination, sexual harassment, and retaliation. In addition, the policies cover claims from a variety of other types of inappropriate workplace conduct, including (but not limited to) employment-related: defamation, invasion of privacy, failure to promote, deprivation of a career opportunity, and negligent evaluation. The policies cover directors and officers, management personnel, and employees as insureds. The number of lawsuits filed by employees against their employers has been rising. While most suits are filed against large corporations, no company is immune to such lawsuits. Smaller companies now need this kind of protection. EPLI provides protection against employee lawsuits, including claims of:
  • Sexual harassment
  • Discrimination
  • Wrongful termination
  • Breach of employment contract
  • Negligent evaluation
  • Failure to employ or promote
  • Wrongful discipline
  • Deprivation of career opportunity
  • Wrongful infliction of emotional distress
  • Mismanagement of employee benefit plans

Fiduciaries can be personally liable for errors, omissions, or breach of duty incurring losses to a benefit plan. Accountability can also be accrued to the company who sponsors the plan, the plan itself, or other outside consultants giving financial advice for the plan. Specific Fiduciary Liability coverage is usually not included as part of a company’s general liability plan, and must be purchased separately.

Employment Practices Liability Insurance with SPG

Coverage Eligibility

  • Stated EEOC Policy, or Willing to Post One
  • Stated Sexual Harassment Policy, or Willing to Post One
  • Health care organizations, law firms and other professional firms including accountants, architects, and engineers with five (5) or more employees
  • Firms with any business organization structure – partnerships, corporations, professional associations – fit our programs.
  • Wrongful Employment Act includes broad definitions of discrimination, harassment, retaliation, workplace tort, and wrongful termination
  • Punitive damages coverage – most favorable venue affirmation where insurable by law
  • Coverage for harassment or discrimination claims by third parties
  • Claims brought by firm owners for Wrongful Employment Acts are covered
  • Choice of counsel available for qualified firms; pre-approved counsel is also available
  • Defense cost coverage for violations of WARN, COBRA, disability benefits law, workers compensation, unemployment compensation, or similar laws when alleged in connection with a covered claim
  • Coverage for discrimination and retaliation claims alleged in connection with non-covered violations of federal, state, or local wage and hour laws
  • Claim reporting obligation is triggered only when certain individuals within the firm become aware of the claim
  • Innocent insured protection
  • Full prior acts coverage available
  • Worldwide coverage
  • Non-cancelable except for nonpayment of premium
  • Coverage for claims alleging failure to make partner or shareholder

Policy Highlights

  • Entity Coverage
  • Duty to Defend
  • Claims Made Coverage
  • Pay on Behalf Policy Form
  Coverage for:
  • Wrongful Termination
  • Discrimination
  • Breach of Employment Contract
  • Harassment
  • Retaliatory Treatment
  • Violations of ADA and Civil Rights
  • $10 million in capacity
  • Primary and excess coverage available

Optional Coverage Enhancements

  • True Claims Made Coverage
  • Punitive and Exemplary Damages
  • Automatic Subsidiary Coverage
  • Independent Contractors as Insureds
  • Leased Employees as Insureds
  • Third Party (e.g., clients and vendors) Claims of Discrimination and Sexual Harassment
  • Cancellation Only for Non-Payment of Premium
  • Loss Control Programs (some automatically included)
  • No Liability Retention Clause

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