A PERILOUS ENVIRONMENTThe legal and regulatory position of employment law is constantly changing. Employers have to comply with increasingly complex and onerous obligations that represent a legal minefield. Even companies with dedicated human resources staff can find it difficult to keep up to date. The situation is more perilous for those organisations with employees working overseas who also need to understand the local legal position and the cultural differences.
To protect employers against this ever changing environment, RSA has developed Employment Practices Liability (EPL) Insurance. We were one of the first insurers to offer bespoke EPL policies in the UK.
INCREASED LITIGATIONCompanies and partnerships have seen a substantial rise in the level of litigation in the employment field. Publicity given to a number of sizeable awards in this area has increased employee awareness of their rights and the potential compensation that can be achieved.
Much of the legislation is largely untried and untested and a body of case law does not exist for many of the new rights that have been introduced. This uncertainty is likely to exacerbate the current situation and may contribute to the rising tide of employment related claims. The introduction of age discrimination in October 2006 will introduce a further level of uncertainty.
Also, whilst in the past the high cost of bringing such actions was a considerable deterrent, the introduction of contingent and conditional fee arrangements from lawyers has meant that legal support is far more widely available to potential claimants.
WHY INSURE?Whilst good human resources management can help limit exposures it can never eradicate the risk completely. The legal cost of defending an employment claim, even an unfounded one, can be substantial. There is also the catastrophe potential represented by a multitude of related actions, such as unfair dismissal or discrimination claims from a group of people all similarly affected by the companies actions.
RSA PROFIN - YOUR CHOICEEmployment Practices Liability Insurance from RSA ProFin provides protection to employers and their employees against the financial impact of employment related legislation. The scope of cover is designed to protect the company, its directors, officers and employees against genuine complaints as well as provide a defence against exaggerated or spurious claims.
We offer a comprehensive policy wording and experience gained as one of the largest insurers of UK Employers Liability insurance, which means RSA ProFin is ideally positioned to understand and tackle all the issues in this complex area.
Our team of EPL underwriters can help you to find the right cover for your needs. Please click here for contact information.
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