Berkshire specialty unit offers employment practices policy
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Berkshire Hathaway Specialty Insurance Co. said Monday it is introducing an employment practices liability insurance policy that provides up to $25 million in limits.
The policy, which is an addition to its existing Executive First suite of products, provides “broad, modern” coverage for companies facing harassment, discrimination and other claims made by employees, regulators, customers and others, the Boston-based unit of Berkshire Hathaway Inc. said in a statement.
The policy is designed to protect companies and executives from the “full spectrum” of claims in the employment area, including wrongful termination, harassment, discrimination, retaliation and failure to employ or promote, the insurer said in the statement.
It provides coverage for exposures including those arising from genetic information, military status, sexual orientation or preference, and improper internet activity issues, while harassment is broadly defined as sexual or workplace harassment of any kind, the insurer said.
Policyholders will have access to EPL First, an online repository of human resources training and compliance resources, as well as help line services from an attorney, with both services provided by San Francisco-based law firm Littler Mendelson P.C., according to the statement.
Rhonda Prussack, New York-based head of fiduciary and employment practices liability insurance at Berkshire Hathaway Specialty Insurance, said the insurer has just started the filing process. The policy will be written on an admitted basis only in Arizona and Michigan for now, but the market will be informed as the coverage becomes admitted in more states, she said.
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