Beazley Unveils New EPLI Policy for Mid-Sized Businesses with up to 10,000 Employees

September 19, 2005

Beazley, an insurer of specialty coverages, is offering a new employment practices liability (EPL) policy to U.S. clients with up to 10,000 employees.

Through its managed Lloyd’s syndicates, Beazley has a history of writing EPL insurance on a surplus lines basis for U.S. corporations and professional practices. The new policy will be offered in the admitted market and underwritten in the United States by Beazley Insurance Company Inc., a U.S. admitted carrier.

The coverage is one of a number of underwriting solutions that Beazley has developed for mid-market clients in the United States. The company’s product range also includes directors and officers insurance for public, private and nonprofit organizations; errors and omissions insurance; crime and fiduciary coverages; and ERISA bonds.

Launching the coverage, Carrie Brodzinski, EPL product manager at Beazley, said: “We have consulted widely with brokers who serve mid-market clients and believe there is demand for a solution that combines broad coverage, stable capacity, and highly responsive service, both on underwriting and claims.”

The Beazley EPL policy offers expanded coverage features, including:

* Coverage for punitive and multiplied damages;
* Coverage for violation of the Family & Medical Leave Act;
* Third party coverage available;
* Narrow exclusion language;
* Comprehensive list of covered wrongful acts.

In defending employment practices suits, many employers reportedly prefer to work with their own legal counsel, rather than retaining counsel from the insurer’s approved panel. Beazley will give consideration to clients’ preferences in this regard.

Other defense provisions of the Beazley policy can include a separate limit for defense costs, in addition to the limit for damage awards or settlements, and a 70/30 settlement clause, which allows the insured greater flexibility to defend claims following a settlement offer.

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