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HUB International Coastal Insurance
British Columbia’s leading solution provider for STRATA Insurance
You get more when you buy from our STRATA specialists at HUB International Coastal Insurance Brokers. You receive the combined power of our vast global resources and solid local relationships. We deliver the solution that makes the most sense for you when it comes to your needs.

Employment Pension Liability

We have experience and clout in the financial and professional risks marketplace; as such, we have access to all international, regional and local insurance markets for insurance placements. Ultimately, our qualified and experienced specialty brokers are prepared to assist you through the placement process to ensure you have a robust and comprehensive program.  

Employment Practices Liability (EPL) Insurance

Virtually every aspect of the employment relationship can give rise to an employment claim; from a prospective employee’s interview to a former employee’s referral. Furthermore, the grounds upon which employees can sue are myriad and growing. Societal and workplace trends are expected to give rise to more claims and new areas of exposure. In addition, an aging workforce is expected to fuel an increase in age discrimination lawsuits.

Employment-related claims can result in multi-million dollars in exposures.  Many of the major settlement and damage awards against high profile companies are well-documented.  Lesser known cases are those of Canadian companies operating subsidiaries in the US and overseas which are subject to foreign jurisdictional regulations and trends regarding employment practice liability.

Companies engaged in customer-intensive businesses, such as retail stores, airlines, or car rental companies, are most susceptible to third-party liability claims.  Third-party employment practices liability refers to claims made by non-employees, usually customers, who allege that an employee engaged in wrongful conduct, typically sexual harassment or discrimination. 

 

Tailoring Your Coverage

At HUB International, we have experienced brokers who can assist to assess your EPL exposure and provide viable and cost effective EPL solutions that suit your business operations and future growth. We can tailor various solutions and insurance structure based on your needs.  For example:

  • Adding EPL coverage by endorsement to the company’s D&O policy; or
  • Incepting a stand-alone EPL policy

 Several key advantages and disadvantages of each structure include: 

  EPL by Endo Stand-Alone EPL
Advantages
  • Ease of administration – eliminates the need to purchase yet another policy
  • Consistent defense provisions
  • Lower premium cost

 

  • Broader scope of coverage
  • The ability to negotiate either “duty to defend” or “non-duty to defend” defense provision options
  • Insulation of an Insured’s D&O policy limits
  • Availability of risk management and loss prevention services

 

Disadvantages
  • Potential D&O limit exhaustion by non-D&O claims
  • Lack of coverage breadth compared to stand-alone EPL policies
  • Administration complexity with the existence of yet another policy
  • Higher premium cost

 

Our core team is committed to generating value-added services to clients based on our operating principles:

  • Competitive placement leveraging on our market clout and global reach
  • Procuring only from “A” rated carriers with proven underwriting and claims performance
  • Providing advice on specialty products – niche, experienced and team-based
  • Fair, complete and value-added services provided with compensation transparency
  • Skilled at assisting clients in making informed, knowledge-based decisions

Adhering to client expectations and renewal timelines; creating customized solutions within tight timeframes, and providing service responsiveness   

Pension Trustee Liability Insurance

Our HUB International Professional & Financial Risk specialists are ready to serve you and deliver the best coverage, best value and best service, with winning solutions for certified professionals, executives and their businesses.

Pension Trustee (Fiduciary) Liability Insurance

There is no room for error when it comes to managing and administering a company's pension and welfare plans. A number of Canadian Acts and U.S. Statutes, as well as common and contract law in Canada, hold your company and its plan fiduciaries to exacting legal standards of conduct. Any actual or alleged breach of duty, error or omission could result in a financially devastating lawsuit threatening the business and the personal assets of the plan fiduciaries.  Many trustees now think twice before undertaking plan fiduciary duties because along with prestige comes enormous personal liability.  Allegations against plan fiduciaries, companies, pension and welfare plans may include: 

  • a failure to operate the plan prudently and for the exclusive benefit of plan participants;
  • the use of plan assets to benefit related parties with interest to the plan, including the plan administrator or plan sponsor;
  • a failure to properly value plan assets or to hold plan assets in trust; and
  • a failure to make benefit payments due under the terms of the plan.

Fiduciary Liability coverage can be tailored to various solutions and insurance structures based on your needs. Fiduciary Liability can be added by endorsement to the company’s D&O policy; incepted as a stand-alone policy; or implemented on the multi-employer form for union-managed plans.At HUB International Professional & Financial Risk Insurance, we advise our clients of the latest trend in fiduciary exposures in relation to the client’s pension/benefits administration.  We design coverage to provide comprehensive protection by ensuring the company, its directors, officers, employees, as well as its benefit programs and plan fiduciaries, are protected from allegations of a breach of duty in plan management, sponsorship or administration.  We serve clients of all sizes of public and private corporations, income trusts, governments and not-for-profit organizations with defined benefit or defined corporate plans.

Our core team is committed to generating value-added services to clients based on our operating principles:

  • Competitive placement leveraging on our market clout and global reach
  • Procuring only from “A” rated carriers with proven underwriting and claims performance
  • Providing advice on specialty products – niche, experienced and team-based
  • Fair, complete and value-added services provided with compensation transparency
  • Skilled at assisting clients in making informed, knowledge-based decisions

Adhering to client expectations and renewal timelines; creating customized solutions within tight timeframes, and providing service responsiveness  

Claims

For claims contact 604.269.1010. 

For after hours claims contact 1.866.55.COAST (1.866.552.6278).

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