Executive Liability EPL/D&O/Fiduciary
Employment Practice Liability
All businesses are exposed to a large amount of risks on a daily basis. No matter what size and type of business you are running, there is always a risk threatening to take down your business. Your employees expect a lot out of you and their job, and when they feel betrayed or mistreated, a lawsuit is never far away. Employment allegations are a common form of business-related claims and Insurance Counseling And Management has a solution to mitigate this form of risk.
Employment Practices Liability insurance will provide protection for an employer from claims made by employees, former employees, or even potential employees. This will also include coverage for high-ranking officials in your firm including directors and officers.
Employment Practices Liability insurance will provide coverage from:
- Discrimination (Age, Sex, Race, Disability, Etc.)
- Wrongful Termination Of Employment
- Sexual Harassment
- Failure to comply with employment related laws (FLMA, COBRA)
Don’t let a disgruntled employee threaten the stability of the business you’ve worked so hard for. Contact Insurance Counseling And Management for a free evaluation of your business’s needs and to receive a quote.
Directors & Officers
A Director or Officer of any company owes certain duties and standards of care in managing the affairs of the corporations they serve. If failure to perform these duties results in financial damage to the corporation, a director or officer can become personally liable to share holders, creditors and even competitors. Directors & Officers liability insurance is coverage specifically designed to provide personal protection to the directors and officers of your business. Some examples of covered losses are:
- Breach of Contract
- Unfair Business Practices
- Patent and Copyright Infringement
- Allegations of Fraud
- Employment Related Claims
Fiduciary Liability
Corporate executives who handle the matters of a company’s employee benefit plans are personally liable for their decisions and actions regarding the plan assets. Fiduciary liability, also called “pension trust liability,” protects them against claims. Fiduciaries generally deal with such employee benefit plans as pension and profit sharing, employee stock ownership, health, and welfare plans.
This type of claim is not included in a directors and officers policy, despite popular belief. Claims against fiduciaries can include:
- Improper advice or disclosure
- Inappropriate selection of advisors or service providers
- Imprudent investments
- Lack of investment diversity
- Breach of responsibilities or fiduciary duties
- Negligence in the administration of a plan
- Conflict of interest with regard to investments