Beazley Group, an insurer of management liability risks, has launched a new employment practices liability policy tailored to the specific needs of professional services firms such as law firms, accounting firms, and architects and engineers.
The new employment practices liability (EPL) policy is designed for businesses that operate as partnerships or professional corporations.
Carrie Brodzinski, product manager for Beazley, said: Basic EPL policies do not work well for professional firms. The structure of professional firms requires changes in the policy terms to ensure that they receive the full benefit of the coverage. Without these coverage extensions, it is possible that otherwise valid EPL claims would not be covered.