EPLI Insureds’ View of the Product – including Wage & Hour coverage

Last week I presented a webinar for clients and friends of HR That Works, a human resources management and training company.  My presentation was on the findings of The Betterley Report EPLI Market Survey 2012 to an audience of 100 or so HR professionals and insurance brokers.

During the webinar, we polled the audience on 3 topics near and dear to my heart.  Although the audience is not a statistically valid group, and indeed if they were on this webinar, they were probably a stronger-than-average group of professionals, I thought the poll results are worth sharing.

Here are the questions and the responses:

  • Are you (or your clients) aware of the value-added risk management services available to insureds?  Out of 25 votes cast, 21 were ‘yes’ and only 4 were ‘no.’  I am pleased that so many insureds are aware of these services; a few years ago I suspect the awareness was just the opposite.
  • Are you (or your clients) confident that an EPL insurer will provide you with the best legal counsel?  Out of 27 votes, 14 said ‘yes’, and unfortunately 13 said ‘no.’ We are concerned that the large number of ‘no’ votes is all too reflective of insured’s opinion of their insurers; does the skepticism come from bad experiences, the pervasiveness of panel counsel requirements, or a general unhappiness with litigation that is understandable?
  • And finally – Would you (or your clients) add Wage & Hour coverage if it cost up to 50% more than the EPLI policy?  In describing the question, I added that I was referencing full Wage & Hour, not just defense costs.  25 responded, of which 16 voted ‘yes’ and 9 said ‘no.’  That struck me as a pretty strong vote for coverage

A recording of the webinar is here for the next couple of months, thanks to the generosity of Don Phin of HR That Works.

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