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Employment Practices Liability & Identity Recovery. Conditions of Use

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Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Employment Practices Liability

&

Identity Recovery

Conditions of Use

ƒ By using this material, you acknowledge your assent to the following conditions of use without limitation or qualification. Please read these conditions carefully before using this material.

ƒ Disclaimer

ƒ The materials in this presentation are provided "as is" and without warranties of any kind either express or implied. To the fullest extent permissible pursuant to applicable law, HSB disclaims all warranties, express or implied, including, but not limited to, implied warranties of merchantability and fitness for a particular purpose. HSB does not warrant that the materials will be error-free, or are free of viruses or other harmful components. HSB does not warrant or make any representations regarding the use or the results of the use of the materials in terms of their correctness, accuracy, reliability, or otherwise. The information and descriptions contained herein are not intended to be complete descriptions of all terms, exclusions and conditions applicable to the products and services, but are provided solely for general informational purposes.

(2)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Conditions of Use - continued

ƒ Limitation of Liability

ƒ While HSB uses reasonable efforts to include accurate and up-to- date information errors or omissions sometimes occur. HSB makes no warranties or representations as to the accuracy of the content of this material. Under no circumstances, including, but not limited to, negligence, shall HSB or any party involved in creating, producing, or delivering this material be liable to you for any direct, incidental, consequential, indirect, or punitive damages that result from the use of, or the inability to use, the materials, even if HSB or an HSB authorized representative has been advised of the possibility of such damages. Applicable law may not allow the limitation or exclusion of liability of incidental or consequential damages, so the above limitation or exclusion may not apply to you. In no event shall HSB’s total liability to you for all damages, losses, and causes of action exceed the amount paid by you, if any, for utilizing this material.

ƒ HSB also assumes no responsibility, and shall not be liable for, any damages to, or viruses that may infect, your computer equipment or other property on account of your access to, use of, or browsing of this material.

Conditions of Use - continued

ƒ Restrictions On Use Of Materials

ƒ This material is owned by HSB. Except as otherwise expressly permitted by HSB, no materials from this presentation owned, operated, licensed or controlled by HSB may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way. You may not distribute, modify, transmit, reuse, repost, or use the content of this presentation for public or commercial purposes, including the text, images, audio, and video without HSB’s written permission.

ƒ HSB neither warrants nor represents that your use of materials displayed in this material will not infringe rights of third parties not owned by or

affiliated with HSB.

ƒ Jurisdictional Issues -- Products and Services

ƒ Unless otherwise expressly set forth herein, HSB makes no representation that these materials are appropriate or available for use in any location. Those who choose to access this material do so on their own initiative and are responsible for compliance with local laws. Except as specifically set forth herein the information contained in this material are not an offer to sell or a solicitation to buy any security, insurance product or other product or service. No security, insurance product or other product or service is offered or will be sold in any jurisdiction in which such offer or solicitation, purchase or sale would be unlawful under the securities, insurance or other laws of such jurisdiction. Some products and services may not be available in all

(3)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Conditions of Use - continued

ƒ Trademarks and Copyrights

ƒ All trademarks, services marks, trade names, logos and icons are proprietary to HSB. Nothing contained in this material should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trademark displayed in this material without the written permission of HSB or such third party that may own the trademarks displayed in this material. Your use of the trademarks displayed in this material, or any other content in this presentation, except as provided herein, is strictly prohibited.

ƒ Images displayed in this material are either the property of, or used with the permission of the owner by, HSB. The use of these images by you, or anyone else authorized by you, is prohibited unless specifically permitted herein. Any unauthorized use of the images may violate copyright laws, trademark laws, the laws of privacy and publicity, and communications regulations and statutes.

Employment Practices Liability

&

Identity Recovery

Dial In: 1-877-298-8255

Access code: 7225220

(4)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Webinar Tips

Mute your phone (*6) - *7 to unmute

Don’t put your phone on hold.

Avoid logging into other applications

Help desk 800-386-2670 For audio dial 1-877-298-8255 – ID: 7225220

Web Console

or Windows Console?

(5)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

I. Employment Practices Liability Insurance

¾ The Need for Employment Practices Liability

¾ GNY EPL Coverage Approach

II. Identity Recovery Insurance

¾ The Need for Identity Recovery Insurance

¾ GNY IDR Coverage Approach

Today’s Agenda

Launch Date

(6)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

EPL Coverage

ƒ Protects Employers from

Claims Brought by Employees,

Applicants for Employment or

Recognized Volunteers

ƒ Discrimination

ƒ Wrongful Termination

ƒ Harassment, including Sexual Harassment

ƒ Liability Damages and

Defense Costs

ƒ Employee includes Full-time,

Part-time, Temporary &

Seasonal Employees

EPLI Statutes/Exposures

ƒ Title VII

ƒ Equal Pay Act

ƒ Age Discrimination in

Employment Act

(ADEA)

ƒ Americans with

Disabilities Act (ADA)

(7)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

EPLI Statutes/Exposures

ƒ Family and Medical

Leave Act (FMLA)

ƒ Fair Employment

Practice Statutes

ƒ Common Law Torts

Employment Liability Claims

Know the risks!

More than 1/2

are made against small

businesses.

(8)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

The Risks Are Real

ƒ 100,000+ charges filed

ƒ 75% of claims groundless

ƒ 52% of charges are against small businesses

ƒ Leading industries = Retail, manufacturing, food service

ƒ Average EEOC complaint > one year to resolve

Percentage of EPL claims against small businesses

Small Co's 52% Other

48%

Claims Settlements

81%

settle between $22,400-$40,500.

(9)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

2005 EEOC/FEPA Statistics

0% 5% 10% 15% 20% 25% 30% 35%

Racial

Gender

Age

Disability

Sexual Harassment National Origin

Religious

Today’s Evolving Workplace

ƒ Diverse workforce

ƒ Structural changes

ƒ Broadened

employment laws

ƒ Evolving regulatory

and judicial

environment

(10)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

What The Business Owner

Thinks About EPL Coverage

40%

believe they can not

afford

EPL Coverage

that they need.

Workplace Complaints That Worry The

Small Business Owner Most

#1: Discrimination: Age,

sex or race

#2: Sexual harassment

#3: Wrongful termination

(11)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Guess What Happened To Me?

ƒ “Legal fees cost about

$25,000, not to mention our

lost time and productivity. It

broke my heart — and my bank

account”

ƒ Steve, tool shop owner sued by a longtime employee for wrongful termination

ƒ “ I was stunned to learn that

defending against a suit could

cost upwards of $40,000.”

ƒ Michael, telecommunications firm owner

Coverage Availability

ƒ Monoline basis

¾ Large Limits & deductibles

¾ High Premium

¾ Extensive underwriting

¾ Chubb, AIG, Zurich

(12)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Emerging Markets

ƒ Combined with

other coverages

¾D & O

ƒ General Liability

¾ Nominal Sublimit

¾ Meaningful sublimits

GNY’s

EPL Coverage

(13)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Portfolio EPL Goals . . .

ƒ Designed for Small Business

ƒ Broad

ƒ Meaningful

ƒ Affordably Priced

ƒ Seamless – Requires minimal

additional underwriting data

EPL Program Synopsis

ƒ Coverage Part to CPP:

ƒ Form #: “EPL AS 10 07”

ƒ Up to 250 Employees

ƒ Auto added for up to 50 employees

ƒ Referrals for 51- 250 employees

ƒ $100,000 Annual Aggregate limit/default

ƒ $10,000/claim deductible/ default

(14)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Referral Options

ƒ Limit Options:

ƒ $250,000

ƒ $500,000

ƒ $1,000,000

ƒ Employees 51-250

ƒ Policy premium over

$100,000

Refer to:

eplquote@hsb.com

Pricing Matrix

ƒ Habitational: 0.6% of CPP Liability Premium

ƒ Non-habitational: 1.3% of CPP Liability Premium

ƒ Minimum: $50/policy

(15)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

EPLI Coverage Summary

ƒ Defense within the Limits

ƒ Claims made

ƒ Duty to Defend Coverage

ƒ Extended Reporting Period available

ƒ No coverage for Prior Acts or Known Acts

EPL Claims Service and Loss Prevention

ƒ Dedicated EPL Claim

Specialists

ƒ Premier EPL Panel

Attorneys

ƒ Online EPL Loss

Prevention Program

ƒ GNY Risk Improvement

(16)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

EPL Product Strategy

ƒ Ease of Doing Business – “Portfolio Underwriting” for EPL coverage streamlines underwriting & processing

ƒ GNY Paper – Seamless Attachment Approach

ƒ Minimal Information Gathering to Protect Profitability & Sustain Low Portfolio Pricing

ƒ Best-in-Class Claims Adjustment & Loss Mitigation

ƒ Web Based Education & Loss Prevention Tools for Policyholders

ƒ Integrated Marketing, Training & Communications Tools for a Clear, Consistent Marketing Message

Benefits to Insured

ƒ Affordable, Broad EPL Coverage

ƒ Meaningful Limit Options

ƒ Eliminated Coverage Gaps

ƒ Access to EPL Claims Specialists

ƒ Access to Premier EPL Panel Attorneys

ƒ Access to Web-Based EPL Loss Prevention Programs

(17)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Benefits to Producers

ƒ No Additional Underwriting Data Needed

ƒ Better Protection from E&O Exposure

ƒ Product Differentiation

ƒ Access to Web-Based EPL Loss Prevention Programs

ƒ Additional Commission Income

Producer Marketing Support

ƒ Training Webinars

ƒ Educational Webinars

ƒ EPL Website

ƒ Variety of Marketing Materials Available

(18)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Identity Recovery Program

Why is Identity Recovery an Essential

Coverage for the CPP Policyholder?

(19)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

WHAT IS IDENTITY THEFT?

Wrongful use of someone’s personal or

financial information

to commit fraud or other crimes

Creative Thieves

Identity

Thieves Steal

in Many Ways

(20)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

How Could Identity Theft Affect You

and Your Customers?

ƒ Credit Cards…

ƒ Loans…

ƒ Bank Accounts

ƒ Ways you’d never

imagine!

It is personal...

ƒ Confusion & Frustration

ƒ Time Consuming

ƒ Victim Made to Feel

Like They Did

Something Wrong

(21)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Victims Must Take All The Responsibility To…

ƒ Restore their credit to pre-theft status

ƒ Provide proof of fraudulent charges

ƒ Restore their identity records

Identity Theft Leading Cause of U.S.

Consumer Fraud

ƒ It’s getting worse

ƒ 215,177 Complaints in 2003

ƒ 255,565 Complaints in 2005

ƒ Younger Victims

ƒ Percent of ID Theft victims

under 18 has doubled over two

years

(22)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

So… What’s The Financial

Cost to The Victim?

ƒ Out-of-Pocket Expenses

ƒ 60 Hours on Average

ƒ $1,200 Out-of-Pocket Expenses

ƒ Legal Fees

ƒ Credit Bureau Reports

ƒ Loan reapplication fees

Identity Recovery Coverage

(23)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Identity Recovery Coverage

Two Main Components

1. Identity Recovery (Assistants)

and Identity Restoration

(Licensed Investigators) Service

2. Expense Reimbursement

Insurance

What Does it Cover?

9Recovery Services

9Out-of-Pocket Expenses

9Lost Wages/Child & Eldercare

9Mental Health Counseling

(24)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Who is the Insured?

“Identity Recovery Insured” means the following:

Sole ProprietorsSole Proprietors

PartnersPartners

CEOCEO

Employees with 20% OwnershipEmployees with 20% Ownership

Directors & Officers of Condominium Directors & Officers of Condominium Associations

Associations

IDR Coverage Synopsis

ƒ Endorsement/ “interline” coverage part

ƒ CPP coverage part: IDR 10 07

ƒ Auto added

ƒ No referrals

ƒ $15,000 Annual Aggregate Limit

ƒ $500 aggregate deductible/insured

(25)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

What About Pricing?

Î Included for no additional premium

As an Producer,

What does it mean to you ?

ƒ Fill the demand

address a growing concern of your clients

ƒ Differentiation – distinguish

your products from

competitors

ƒ Automatic Coverage – top tier coverage and service available at no additional premium

ƒ Customer Acquisition and

Retention

ƒ Attract new customers while retaining existing ones

(26)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Agency Support Resources

ƒ Producer Meetings

ƒ Educational Webinars

ƒ Variety of Marketing Materials

Available

Q&A

(27)

Copyright 2009, The Hartford Steam Boiler Inspection and Insurance Company

Employment Practices Liability

&

Identity Recovery

Competitive

Comprehensive

Efficient

References

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