Employment Practices Quantified
This first of its kind analytical tool quantifies any combination of Employment Practices Liability (EPL), Wage & Hour (W&H) and private or nonprofit Directors & Officers (D&O) loss potential. It empowers your organization with the insights of our proprietary data and analytics to measure and predict risk, as well as the decision support needed to optimize your risk management budget and strategy.
Going beyond other traditional employment risk models in the industry, Employment Practices Quantified is a first of its kind designed for all organizations: public, private or nonprofit. For public companies, the model focuses on EPL and W&H exposures. For privately-held and nonprofit organizations, the model not only incorporates the EPL and W&H analysis, but also quantifies D&O Liability exposures, creating the ability to evaluate any combination of these three risks.
Employment Practices Quantified' s refined evaluation of your organization's comprehensive risk includes:
- Valuable insights beyond benchmarking into company-specific drivers of risk.
- Dynamic and customizable technology, delivering instantaneous results.
- Data-driven decision support which guides insurance strategy via Comprehensive Cost of Risk (CCOR), Limit Adequacy, retention/deductible analysis and Premium Return on Investment analysis.
- Facilitation of optimal engagement in the insurance marketplace.
- Concise and compelling output for efficient communication with internal stakeholders.
Why should you use Employment Practices Quantified?
- This tool allows you to better understand your EPL risk, including W&H exposure. It provides objective analysis into how often you will experience a claim and how costly your claims could be.
- This tool gives insight into your private and nonprofit D&O Liability based on a customized exposure profile.
- This tool helps you determine the best strategy to manage your risks and shows whether risk transfer is appropriate for your organization. It allows you to compare customized insurance strategies showing how well each protects you from loss and if each is a good value for the price.
- This tool gives your corporate directors more visibility into their exposure with explicit risk indications beyond benchmarking.
For whom is it appropriate?
- Employment Practices Quantified is designed for companies of all types with more than 100 employees.
- It assesses D&O exposure for private and nonprofit companies that have at least $5 million in annual revenue.
- It does not analyze public company D&O exposure, which is addressed in D&O Quantified.
What geographies does this tool support?
- Employment Practices Quantified supports US-based companies and the US-based exposures of multi-national companies.
When should you use Employment Practices Quantified?
- When evaluating or renewing your Employment Practices Liability and Wage & Hour coverage.
- When evaluating or renewing your D&O liability coverage as a private or nonprofit company.
- When determining how transactional changes such as mergers, acquisitions, restructures, reduction-in-force, or employee classification may impact your loss potential.
- When optimizing your risk management expenses across your various insurance coverages.
What can I do with information gained from Employment Practices Quantified
- Assess your loss potential at any time to better understand your overall risk management strategy.
- Drive insurance purchasing decisions and marketing strategies before engaging insurance markets.
- Design optimal insurance structures based on your company's unique risk profile.
- Proactively engage insurance markets by comparing quotes from carriers with financial decision support metrics such as Value from Insurance and Premium Return on Investment.
- Gain critical support for optimizing insurance purchasing decisions: fully understand your potential to retain risk.
- Provide senior managers and decision-makers with more visibility with what-if scenarios, clarity on multiple and related exposures, and explicit risk indications beyond benchmarking.