The Risk Manager s Role in Mitigating Employment Practices Liability Losses (INS005)
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1 The Risk Manager s Role in Mitigating Employment Practices Liability Losses (INS005) Speakers: Dean Constantine, Global Head, Employment Practices, AIG Property Casualty Kelly O Shea, Director, Risk Management, Xylem, Inc. Kelly Thoerig, Senior Vice President, Marsh
2 Learning Objectives At the end of this session, you will: Identify key EPLI policy provisions that can preclude or limit coverage. Find ways to work with and educate human resources and legal departments on the claims process. Respect the role that your relationship with the claims adjuster plays in ensuring favorable claim resolution.
3 The Risk Manager s Role
4 The Risk Manager s Role Conduct underwriting meetings providing key company information Business overview History, nature of business, and industry Composition of Board and other key decision makers Financial condition and stability, referencing profitability EPL risk profile Footprint, workforce characteristics/makeup, etc. Employment practices philosophy, culture, values, and any recent changes that may impact same Industry trends or company events that have positively/negatively affected the company s brand, employee morale, or client and investor relationships Legal trends, EEOC, and state agency initiatives Internal training, compliance controls, and litigation management Overview of claims experience significant pending and closed claims
5 The Risk Manager s Role Educate internal stakeholders Conduct strategy session with the Legal department Discuss whether your company handles most litigation internally and associated costs savings from a risk management perspective Oversight of outside employment counsel, if any, and whether they are acceptable to the carrier Company s philosophy regarding litigation, settlement, other dispute resolution strategies, and alignment with insurer s requirements Conduct training sessions for Human Resources and Legal to review EPLI coverage and key provisions Definition of claim and reporting requirements Self-Insured retention/deductible Provisions around retention of counsel and claims settlement EEOC charges how handled and role of HR, Legal, and/or outside counsel
6 The Risk Manager s Role Build relationships with claims adjusters Ask your broker to arrange meetings with the head of the EPL claims department and any assigned claims adjusters Have an HR and/or Legal department representative attend with you if possible Be prepared to explain your company s philosophy with respect to retention of counsel, settlement of claims, litigation practice, and under what circumstances EPL matters are taken to trial
7 The Carrier s Perspective: Common Pitfalls to Avoid Bordereau reporting Annual, semi-annual, or quarterly General reservation of rights Limited carrier involvement once claim has been reported Specific claims that must be noticed independently of the bordereau All claims brought by the EEOC or similar state agency All claims where the company anticipates defense costs will exceed a % of the retention All claims with 5 or more plaintiffs or a purported class action Non-bordereau reporting Claims that must be reported individually There is no such a thing as over-reporting of claims
8 The Carrier s Perspective: Common Pitfalls to Avoid Defense of claims Panel counsel or non-panel counsel Jurisdictional issues Pre-endorsing choice of counsel Applicable hourly rates Litigation management guidelines Legal fees review/carrier audits Communication with insurer regarding status of claim and litigation strategy
9 The Carrier s Perspective: Common Pitfalls to Avoid Settlement of claims Consent to settle In most instances, insureds cannot enter into any settlement or expend any legal fees without the carrier s written consent (unless the policy expressly provides otherwise) Settlement provision applies if the carrier recommends a settlement and the company does not consent Allocation issues Covered and uncovered claims
10 Best Practices for Mitigating EPLI Losses Prepare an overview of key policy provisions Prepare internal policies and procedures for claims reporting Practice regular bordereau reporting and utilize internal case management systems to do so Submit defense invoices on a timely basis Communicate regularly with the insurer (settlements, mediations, and trials) Communicate regularly with and involve the broker (to provide claims advocacy as necessary)
11 Questions, Final Comments, and Contact Information Dean Constantine, AIG Property Casualty Kelly O Shea, Xylem, Inc. kelly.oshea@xyleminc.com Kelly Thoerig, Marsh kelly.thoerig@marsh.com
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