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April 30, 2008
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According to the U. S. Equal Employment Opportunity Commission (EEOC), job bias claims against employers are up 9%--the biggest rise in many years. Is your client at risk?
The EEOC received 82,792 private sector discrimination charge filings last year. Nearly all major charge categories showed double digit percentage increases from the prior year.
- For the first time, retaliation was the second highest charge category (behind race)
- Nearly $345 million was recovered in monetary relief, up 26% over last year
- Nearly $55 million was obtained through litigation; more than $290 million through administrative enforcement, including mediation.
Many insureds don't realize that EEOC complaints meet the definition of claim in virtually all Employment Practice Liability policies--which triggers the requirement to notify the carrier. Meticulous care in disclosure and notice of possible claims is critical to preserve coverage under claims-made policies in general and EPL policies in particular.
Experience Counts. The best advice for anyone interested in purchasing EPL coverage is to locate an experienced broker who is well versed in this area. The large number of insurers who sell the coverage and the wide variety of forms in which it is available make this an area where highly specialized knowledge of the market is absolutely critical.
Our Professional & Management Liability department is composed of dedicated brokers who specialize in the placement of Employment Practices liability insurance. Today, S. H. Smith & Company places nearly $100 million in D&O and E&O with approximately 35 admitted and non-admitted markets, with a capacity of over $125 million. With over 160 years of combined experience, few companies offer the depth and breadth of experience as S. H. Smith.
Call or email us for more information or to review your client's current program.
David Perkins
Massachusetts Office
781-449-2227
800-735-1023
Click here to email
Mark Mullarkey
Connecticut Office
860-561-3600
800-356-0168
Click here to email
Steve Hunziker
Minnesota Office
651-647-6254
877-279-8500
Click here to email
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Our Professional & Management Liability Department Features
Management Liability
All types, including:
Not-For-Profit
Private Company
Public Company (inc. SPAC's, BDC's)
Financial Institutions
Educational Institutions
Hedge Funds, Private Equity, and Mergers & Acquisitions
Healthcare
Management Liability (D&O, EPL, Fiduciary)
General/Medical Professional
Sexual Abuse/Molestation Coverage
Medical Malpractice - including Behavior Health/Social Services, All Physicians, Miscellaneous
Cyber, Technology, Media Liability
Tax Preparers
Financial Institutions
Healthcare Facilities
Educational Institutions
Marketing Firms
Retail Stores (including those who are internet based)
Miscellaneous Professional
All Classes
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Offices in
Connecticut,
Massachusetts,
Minnesota,
New York,
Ohio,
Pennsylvania, and
Florida
For general information about S. H. Smith, feel free to call or email anyone at any of our offices. For any state not listed below, please contact Scott
Smith, President. S. H. Smith & Co. is a national firm, licensed to write in all 50 states.
S.H. Smith & Company is a national, independently-owned excess and surplus lines insurance broker, managing general agency and program administrator. Our specialists in each of our divisions have a depth of experience which we believe is unmatched in the industry. For more information, please call Scott Smith, president, at 860.561.3600 or email by clicking here.
Our main office is located at 41 North Main Street, Suite 300, West Hartford, CT 06107 and can be contacted by phone at (860) 561-3600. This newsletter is subscription based and is not unsolicited email. If you would like to unsubscribe, please e-mail market_smarts@shsmith.com.
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