What is E-Pack and why do I need it?
E-Pack is comprised of three coverages: Employment Practices Liability (EPLI), Directors & Officers (D&O) and Fiduciary Liability.
EPLI is Employment Practices Liability insurance. If you employ people in your business, you have an exposure to claims alleging a wrongful employment practice which includes but is not limited to wrongful termination and harassment. EPLI protects you against financial loss from these allegations.
D&O insurance protects directors and officers against loss (damages and defense costs) arising out of their status or conduct as directors or officers. Common claims allege breach of duty, security law violations and unfair competition.
Fiduciary liability insurance protects fiduciaries (as defined by ERISA) against loss (damages and defense costs) arising from the administration and management of employee benefit and pension plans. Common claims allege ERISA violations, negligent advise, careless plan management and errors and omissions.
Are punitive damage claims covered?
Yes, the E-Pack policy provides punitive damage coverage as permissible by state law.
Can you write this coverage for businesses other than architects and engineers?
Yes, many of the firms that are eligible for coverage in our Specialty Construction Consultants program, as well as Environmental Consultants are also eligible for our E-Pack program. Contractors are not eligible for coverage, nor are firms outside of the construction industry.
Does the policy provide coverage for wrongful employment practices taking place outside of the U.S.?
Yes, coverage is worldwide.
Is this coverage an endorsement to the professional liability policy or a stand- alone policy?
It is a stand-alone policy, except for Small Firm accounts. Small Firm coverage is by endorsement, and is for EPLI only.
Must I have a professional liability policy with your firm?
No, we welcome design firms and consultants that are insured with other professional liability carriers, though there must be a professional liability policy in force in order for us to offer E-Pack coverage.