VIEWS: 2 PAGES: 3 CATEGORY: Business & Economics POSTED ON: 5/28/2010
The Employment Practices Liability Insurance (EPLI) market is a tough one these days and getting tougher. The author has been in the EPLI market for about 10 years now, and he's never seen more competition and more players getting into the arena. So says Doug Tobin, assistant VP and EPLI program manager for CRUMP/BISYS, a managing general agency for specialty programs. And, Tobin points out, this competition is taking place at a time when EPLI claims are on the rise. They're seeing more claims on their books, says Phil Holderness, SVP in charge of the executive and professional liability department for Westrope, the seventh largest commercial wholesale insurance broker in the US. They also have access to a third-party EPLI policy to protect their clients when a third party files an EPLI lawsuit, Holderness continues. They also have coverage for their clients who may be sued under the Fair Labor Standards law, which involves hourly wage earners versus weekly salaried workers and overtime issues.
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