Allied World Bermuda, part of Allied World Assurance, has launched a new primary employment practices liability (EPL) product, for companies needing a comprehensive coverage package.
The employment practices liability product, branded as 32°/64°, offers flexible retention options and built-in punitive and exemplary damages coverage 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 safeguards employers against claims made by current, former or prospective employees for discrimination (age, race, sex, and disability), wrongful termination, sexual harassment, retaliation, and other employment-related allegations.
Allied World Bermuda senior vice president of Bermuda and International Professional Lines Product Line manager Ed Moresco said the new product offers complete protection for clients in the event of a severe employment-related claim while granting them the flexibility they require.