2023 Employment Practice Liability Trends to Watch
Last year, most Employment Practices Liability Insurance policyholders saw rate increases amid difficult market conditions. Is this trend expected to continue in 2023? In this post, we’ll go over some of the developments and trends to watch and what this year has in store for EPLI.
Here are some of the top EPLI developments and trends to watch:
- Rising claim severity
- Increased regulatory scrutiny
- Marijuana legalization considerations
- Artificial intelligence (AI) concerns
If you’re thinking about buying EPLI this year, you’ll want to assess your employee handbook and related policies. Make sure you have all appropriate policies in place, including language on discrimination, harassment, and retaliation.
For more information about these trends and more practical tips for buying EPLI this year, please check out our 2023 Market Outlook: Employment Practices Liability Edition here.
Contact Burnham WGB’s Commercial Risk Management Team
You don’t have to plan alone. Our Commercial Risk Management Team is here to help you navigate the challenges and risks you face today and help protect the assets you’ve worked so hard to build. Contact us today for help navigating the EPLI market.