Global insurer XL Catlin’s Bermuda-based professional lines team has launched a new policy that combines employment practices liability (EPL) and wage and hour coverage into a seamless option to help clients manage rapidly increasing employer-related risks.
The combined policy includes full EPL coverage including discrimination, harassment, common law violations, wrongful termination and treatment and available third-party discrimination coverage, as well as various damages including punitive damages.
It also features new EPL perils tailored for the amorphous modern workplace; full wage and hour covering statutory wage claim, including statutory damages, earned wages liquidated damages, attorneys’ fees and punitive damages; and coverage for claims by employees, independent contractors and the US Government, including the Equal Employment Opportunity Commission, the Department of Labor and the Department of Justice.
“As laws governing the workplace evolve, the employment landscape is rife with litigation pitfalls,” said Matthew Irvine, XL Catlin’s Bermuda professional lines chief underwriting officer.
“Recent lawsuits against employers increasingly combine allegations of both EPL wrongdoing and wage and hour violations, making defence and resolution more costly than ever.
“Our combined policy provides the same full range of EPL coverage as the broad form longtail EPL policy, plus the wide scope of coverage of the wage and hour policy. By combining the two coverages, the new blended policy also fills any gaps in piecing together separate policies and offers peace of mind that hybrid claims involving both EPL and Wage & Hour liabilities will be addressed in one comprehensive policy.”
Patrick Tannock, who leads XL Catlin’s Bermuda insurance operations, said: “Offering this comprehensive policy is another demonstration of our ability to understand market changing dynamics and quickly provide solutions that address the rapidly evolving risk management needs of clients.”
XL Catlin, Matthew Irvine, Patrick Tannock, Bermuda, Europe