ExecutivePerils, a DOXA Insurance Holdings company and independent wholesaler dedicated to providing excellent service with value added expertise, is pleased to announce the launch of their new insurance policy, EPL+WHIP ®. This innovative new product combines wage & hour insurance protection (WHIP) coverage with cutting-edge employment practice liability (EPL) coverage.
EPL+WHIP® was created to address a growing demand for coverage resulting from increasing federal and state laws that hold directors, officers and owners personally liable for wage and hour (W&H) violations. This innovative product was designed to mitigate the growing risk and exposures that directors, officers and owners now face when indemnification is not possible and to protect the corporate balance sheet when indemnification is possible.
“EPLI has not materially changed since the addition of third-party coverage in 1998. At the same time new legislation, new perils, and new developments have surfaced in how and against whom litigation is brought. Something needed to be done,” said Peter R. Taffae, managing director, ExecutivePerils. “ExecutivePerils and our insurance partners saw these new and expanding risk exposures and recognized the need for a next generation approach. We are excited to offer a revolutionary new product that offers the cutting edge coverage and setting a new gold standard for the EPLI sector.”
EPL+WHIP® is available in all 50 states through an A.M. Best rated A XV carrier. The product offers sub limit reinstatements, up to $1 million in W&H protection, continuity of claims coverage as well as the following coverage:
- Immigration defense
- Joint employer
- Workplace violence
- Employee privacy violation
- Sexual harassment
- Wrongful termination
Submission requirements for the product include an EPL+WHIP® application, five years of loss runs with values, a copy of the current EPL policy and a most recent year-end financial report.
For more information about EPL+WHIP® please visit https://eperils.com/EPLWHIP.
ExecutivePerils, a DOXA Insurance Holdings company, is an independent wholesaler dedicated to providing excellent service with value added expertise. Offering broad coverage at a competitive price for everything from Fortune 500 policies to local nonprofit accounts, ExecutivePerils boasts a long history in the ‘executive perils’ segment of the insurance industry contributing new and creative solutions to complex issues. To learn more about ExecutivePerils please visit https://eperils.com/.