Allied World Bermuda EPL Offer
Allied World Assurance Company Holdings, AG announced today [Nov.18] that Allied World Bermuda has launched a new primary employment practices liability [EPL] product for companies needing a comprehensive coverage package.
The product, 32°/64°, offers flexible retention options and built-in punitive and exemplary damages coverage, thereby removing the need to purchase a separate puni-wrap policy.
32°/64° provides protection for the significant expenses associated with defending employment-related claims, as well as the substantial costs of paying a judgment or settlement.
This policy provides broad coverage safeguards for employers against claims made by current, former or prospective employees for discrimination [age, race, sex, disability, etc.], wrongful termination, sexual harassment, retaliation, and other employment-related allegations. No industry class is excluded and limits are available up to $25 milllion.
Ed Moresco, Senior Vice President, Bermuda and International Professional Lines Product Line Manager, commented, “Unfortunately, in today’s environment it is no longer a matter of whether an employer will be the target of an EPL claim; it is simply a matter of when.
“Our 32°/64° product offers complete protection for our clients in the event of a severe employment-related claim while granting them the flexibility they require.”
Allied World Assurance Company Holdings, AG, through its subsidiaries, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering superior client service through a global network of offices and branches.
All of Allied World’s rated insurance and reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard & Poor’s, and A2 by Moody’s, and our Lloyd’s Syndicate 2232 is rated A+ by Standard & Poor’s and Fitch. Please visit www.awac.com for further information on Allied World.
