Wilmington, Del.-based Rockwood Programs has developed an employment practices liability insurance policy specifically tailored to address the unique needs of small employers. Companies with 15 employees or fewer are eligible for the coverage. The product is being marketed under the name of The Rockwood Guardian EPLI Program.
“Most smaller employers simply cannot afford to secure EPLI coverage through traditional markets”, says Darryl McCallin, vice president of Rockwood Programs. “Many programs have minimum premium requirements of $2,000 or more. The Guardian EPLI product provides meaningful coverage for as little as $500”.
The Guardian EPLI program offers liability limits of $50,000 and $100,000. Applicants also have the option of selecting between defense/indemnity and defense only coverages. All policies are issued with a $5,000 deductible. The insurance is offered through the Rockwood Guardian EPLI Risk Purchasing Group. Coverage is underwritten through certain underwriters at Lloyds of London. Risk management services are also provided as part of the coverage package.
McCallin continues: “Our market research suggests many smaller firms are under the mistaken impression that employment-related exposures are covered under their Business Owners or General Liability insurance. Agents failing to correct this perception may be putting their own professional liability at risk.”
For more information call (800) 558-8808.
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