"Due to the most recent few years and what we have been seeing in the media, I expect more and more claims to be filed," says independent agent Karyn Roeling, "which will continue to make this market harden into the future."
Karyn S. Roeling
President and Owner
Seibert Insurance Agency
How did you get started at your agency?
The agency is a family business that my father started back in 1971. I went to Florida State University and received a degree in risk management and insurance and then worked at a large carrier as an underwriter, and then lead underwriter, for three years before starting at this agency in 2005.
Why employment practices liability insurance?
I instantly saw a need for this coverage. Many times just the allegations of wrongdoing can result in thousands of dollars in defense costs that most small businesses don't have laying around.
Biggest EPLI industry changes?
The underwriting has tightened up and the cost for the same amount of coverage has increased.
In the COVID-19 economy when companies may be laying folks off, it makes this coverage that much harder to place.
Future trends in EPLI?
Due to the most recent few years and what we have been seeing in the media, I expect more and more claims to be filed, which will continue to make this market harden into the future. I foresee increasing cost, less availability and more underwriting questions.
Advice for fellow agents?
Make sure to talk about it with every account, no matter how big or how small—everyone needs the coverage!
Favorite success story?
I had a client that purchased EPLI insurance and just a few short months later needed some advice regarding a situation with an employee. Normally, the employer would have just taken action but because of the discussions around EPLI and their recent placement of the coverage, they remembered that they could get free advice with the hotline number on the policy. They called the hotline and took the advice of the EPLI attorney.
They were thrilled because there was no cost to use the service and the situation was handled differently than how they were originally anticipating dealing with it. This helped avoid any allegation of wrongdoing by the employer. It was a win-win situation!
Olivia Overman is IA content editor