Management Liability Insurance
Employment practices liability
Employment Practices Liability Insurance (EPLI) protects you and your company from lawsuit regarding employer tort offenses like harassment, discrimination, wrongful termination etc.,. Insurance can help cover the cost of the lawsuits from 1st or 3rd party members. Same applies to any unlawful termination of an employee. Every employee you have is another liability, but EPLI can assist with your employment issues.
3rd party Employment practices liability
This is a separate insuring agreement within EPLI policies. It covers liability claims resulting from nonemployees against employees of the insured organization. Third party individuals include customers, vendors, clients, etc.
Directors & officers liability insurance
Directors & Officers Liability, or D&O for sort, is designed to financially protect the corporate board or advisory committee from their mismanagement. Mismanagement can include any misuse of company funds and assets. It also covers fraud. Another mismanagement issue is an overall lack of governance and law from the corporation.
Fiduciary Liability
Fiduciary Liability insurance provides coverage for the legal cost to defend against claims of errors and a breach of fiduciary duty. These fiduciary duties can consist of, but are not limited to, benefit pension plans, 401(k)s, and stock purchase options. Common claims that fiduciary liability will cover is errors of omissions in plan administration, Improper advise or counsel for health or welfare plans, poor or negligence towards an employee(s)’s retirement plan, wrongful denial or improper change in benefits, or risky investment towards an employee(s)’s pension.
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