Employment Practices Quantified

Get more from your risk management budget and improve your insurance strategy. Easily demonstrate your exposure to employment practices liability (EPL), wage and hour (W&H) and private or nonprofit directors and officers (D&O) claims using data and analytics insights.

Employment Practices Quantified is 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.

Gain clarity and transparency using insight from Employment Practices Quantified. You can refine your risk evaluation and respond to enquiries from the board with a comprehensive risk review, including:  

• Valuable insights beyond benchmarking into company-specific drivers of risk
• Dynamic technology, delivering instantaneous scenario and sensitivity testing
• Data-driven decision support that 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.

How can I better understand my employee and private D&O insurance requirements?

• You can show impact on your balance sheet and empower your organization to measure and predict risk with Employment Practices Quantified to: Better understand your EPL risk, including W&H exposure, relying on objective analysis into how often you will experience a claim and how costly your claims could be, with consideration of both single and multi-claimant claims
• Refine insight into your private and nonprofit D&O liability based on a customized exposure profile
• Determine the best strategy to manage your risks and whether risk transfer is appropriate for your organization by comparing the efficacy and efficiency of customized insurance strategies
• Give your corporate directors a better understanding of their exposure with explicit risk indications beyond benchmarking.

How can I better assess my organizations employee and private D&O insurance exposures?

Assess loss potential and evaluate insurance requirements using insight from Employment Practices Quantified. The output:

• Is designed for all types of companies with more than 100 employees
• Assesses D&O exposure for private and nonprofit companies that have at least $5 million in annual revenue
• Compliments public company D&O analyses, which are modeled in D&O Quantified.
• Supports private-company D&O exposure globally, as well as U.S.-based EPL & W&O exposures.

When should you use Employment Practices Quantified?

• When evaluating or renewing your employment practices liability and wage and 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.

Impact of insurance

What can I do with insight from Employment Practices Quantified?

• Assess your loss potential to better understand your overall risk management strategy
• Drive insurance purchasing decisions and marketing strategies throughout the renewal process to:
  • 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 to fully understand your potential to retain risk
• Provide senior managers and decision makers with more visibility using what-if scenarios, clarity on multiple and related exposures and explicit risk indications beyond benchmarking.

Better assess your loss potential and insurance requirements with insight from Employment Practices Quantified. Speak to the insurance analytics specialists at Willis to find out how.