Allied World Assurance Company Holdings, AG announced that Allied World Bermuda has launched a new primary employment practices liability (EPL) product for companies needing a comprehensive coverage package.
The product, 32°/64°, offers flexible retention options and built-in punitive and exemplary damages coverage, thereby removing the need to purchase a separate puni-wrap policy.
32°/64° provides protection for the significant expenses associated with defending employment-related claims, as well as the substantial costs of paying a judgment or settlement.
The policy provides broad coverage safeguards for employers against claims made by current, former or prospective employees for discrimination (age, race, sex, disability, etc.), wrongful termination, sexual harassment, retaliation, and other employment-related allegations. No industry class is excluded and limits are available up to $25m.
Source: Allied World Assurance Company
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