The Hidden Cost of Your EPL Insurance, Revealed.

Tuesday, July 13 2021

In 2020 and into 2021, Employment Practices Liability (EPL) insurers have drastically increased their renewal rates - to the tune of 25% and even up to 75%. This trend has a lot to do with how Covid impacted certain industries, especially the hospitality industry here in California.

 As a result of the escalating rates, many insurers are adding more restrictive terms to their contracts, and ceasing to offer third-party discrimination. These terms often leave the client - meaning you - in an unfair position, especially if you aren’t aware of the changes.

 Now, more than ever, hospitality businesses need to be aware of policy terms and changes that could affect your bottom line and even land you in court. A few key facts to keep in mind when it comes to EPL:


  • Premiums have gone up as much as 75% since the pandemic hit.
  • The cost of settlements has escalated from 200 to 500k since 2020 - which decreases insurers’ profitability, and in turn, increases their client premiums.
  • The main driver of increases in premiums are increases in claims driven by social justice issues and Covid-19 related issues.
  • To get the most competitive price with the broadest and safest EPL coverage, you need a broker who works on behalf of the insured, not the insurance provider.
  • Your renewal rate is dependent upon your company’s risk profile.


Core Collective scours the market for the BEST EPL insurance terms with the LOWEST RATES possible based on your individual risk profile. Don’t pay more than you have to, and never settle for less than optimal EPL that could leave your entire company at risk.


Call us today and our EPL experts will go to work for YOU, not for the insurance company.

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