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Employment Practices Liability Insurance
Rating: 4.6 out of 5(22 ratings)
323 students

Employment Practices Liability Insurance

A Buyer's Guide to Employment Practices Liability Insurance (EPLI)
Created byCaroline Alvarez
Last updated 2/2021
English

What you'll learn

  • What to do and know before buying Employment Practices Liability Insurance
  • The basics of an Employment Practices Liability Insurance policy
  • Different coverage options in an EPLI policy
  • General Terms and Conditions of an EPLI policy

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Course content

1 section • 17 lectures • 35m total length

  • Introduction1:04

    After completing this lecture, students will understand what Employment Practices Liability Insurance (EPLI) is and how to become an informed buyer.  This lecture reviews what this buyers guide will cover such as:

    - What to do and know before buying EPLI

    - EPLI policy basics

    - EPLI policy insuring agreements

    - EPLI policy Terms and Conditions

  • What is EPLI?2:42

    In this lesson we breakdown the definition of employment practices liability insurance including what is meant by employment practices.

  • The Evolving Nature of Employment Practices Liability4:40

    This lesson explains how EPLI responds as needed to the changes in employment practices liability that results from changes in laws, societal attitudes, and an increased awareness of rights.

  • What to do before buying EPLI1:40

    By the end of this lecture, students will understand key policies and procedures critical to an organization managing their employment practices liability risk.  The importance of investing in sound risk management first will be highlighted as a risk mitigation tool.

  • Know why you need EPLI3:55

    By the end of this lecture, students will understand the importance of buying EPLI, along with two key things that drive an organization to purchase it.

  • Selecting an insurer1:25

    By the end of this lecture, students will know how to select an insurer, including important elements to consider and the role of the insurance broker.

  • Understanding EPLI policy basics: Stand-alone or combined policy?1:50

    By the end of this lecture, students will understand how to buy EPLI and the difference between stand-alone and combined policies.

  • Understanding EPLI policy basics: Policy period, ERP and geographical location1:48

    By the end of this lecture, students will understand other important considerations when reviewing an insurance policy such as the policy period, the extended reporting period, and geographical location.

  • What to buy? A look at the insuring agreements in an EPLI policy3:16

    By the end of this lecture, students will understand the named perils covered in an EPLI policy such as discrimination, harassment, wrongful dismissal, and retaliation.  Optional insuring agreements will also be reviewed such as third-party wrongful act coverage, wage and hour claims coverage, sensitivity and re-education training, wrongful internet activity, and workplace violence expense coverage.

  • Policy declarations and general terms and conditions: Liability limits2:05

    By the end of this lecture, students will understand the structure of the EPLI policy including the declarations page and the general terms and conditions.  Students will learn how the limits and sub-limits of a policy work, along with important terms such as aggregate limit, sub-limit and punitive and exemplary damages. 

  • Policy declarations and general terms and conditions: Retention or deductible2:31

    By the end of this lecture, students will understand the difference between retention and deductible, factors used in determining deductible and retention levels and the most common EPLI policy structure.

  • Policy declarations and general terms and conditions: Reporting and notice1:18

    By the end of this lecture, students will understand the reporting and notice provisions of an EPLI policy and where to locate them in the general terms and conditions.  Terms such as 'claims-made' and 'extended reporting period' will be reviewed with descriptions on implications and policy impact.

  • Policy declarations and general terms and conditions: Exposure and cancellation1:04

    By the end of this lecture, students will understand what a change in exposure means, and the insured's obligations that go along with it.  Students will also learn how to review cancellation provisions as set out in the policy, and where to locate them.

  • Policy declarations and general terms and conditions: Arbitration and others1:14

    By the end of this lecture, students will understand the importance of terms such as arbitration, subrogation and the 'other insurance' clause within the EPLI policy wording.

  • Policy declarations and general terms and conditions: Defense and settlement2:12

    By the end of this lecture, students will understand the detailed roles and responsibilities of the insured and insurer in the event of a claim.  Important terms including 'duty to defend', 'pay on behalf of or reimbursement', and 'consent to settle' (the hammer clause) will also be reviewed.

  • Policy declarations and general terms and conditions: Severability1:11

    By the end of this lecture, students will understand what the terms 'representation' and 'severability' mean and the important role they play in EPLI policy wordings.

  • EPLI: A Buyer's guide wrap-up1:16

    This lecture reviews the key learning objectives in this buyer's guide such as:

    - What to do before buying EPLI

    - Why buy EPLI

    - Policy basics and options available to the consumer

    This lecture also details the full EPLI 101 course, and additional curriculum that is included.

Requirements

  • No requirements

Description

It's simple to say that all employers should buy EPLI because they have employees. Yet not all employers have the same risk profile when it comes to employment practice liability; therefore, their insurance needs are also not the same. Understanding the basics of an employment practices liability insurance policy is key to insurance brokers, HR professionals, lawyers, and business owners. This course will walk you through the critical considerations, the things you need to do, and keep in mind when preparing to purchase EPLI.

The purpose of this guide is to help you be prepared and know which questions to ask so that you can be a well-informed buyer. By the end of this course, you will understand:

  1. What to do and know, and mistakes to avoid before buying EPLI

  2. The basics of an EPLI policy

  3. What to buy? An understanding of the insuring agreements and some of the terms and conditions in a policy.

This course includes a downloadable Buyer's Guide, including a Buyer's worksheet, which can be used when meeting with an EPLI insurance specialist to review your policy or buy a new one.

Insurance is an integral part of every organization's management toolbox. It's more than just a necessary expense, something that needs to be ticked off the list every year. But the only way organizations can ensure they use their insurance to the best of their ability is to fully understand what they are buying and how it works.

For insurers and brokers, the better you understand the intricacies of EPLI policies, the better you can do your job in assisting your client.

And for buyers, risk managers, the more you understand, the better you can ensure that the policy you buy is the most suitable for your needs and that the policy, in turn, delivers when and how you need it to.

If you'd like to learn more about EPLI, including current trends impacting the employment practices liability environment, visit our website for our 2-hour course.






Who this course is for:

  • Insurance Brokers
  • Insurance Buyers
  • HR Professionals
  • Insurance Underwriters

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