Employment Practices Liability for Financial Institutions| Chubb

Employment practices liability insurance protects you against employment related litigation. Legal challenges from employees can be costly to defend, even more so if a lawsuit doesn’t go your way. Chubb’s Elite employment practices liability insurance for financial institutions covers you against legal expenses, including damages, settlements, and defence and claimants’ costs.

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Risk scenarios

Who it's for

Asset management firms and funds
Global and domestic banks, and other lending institutions including challenger banks
Building societies
Non-life insurance companies - Stock brokers
Clearing houses

What it covers:

Employment practices insurance covers your business for these legal costs and actions:

Damages – including injury to feelings
Judgements and settlements
Defence costs and awards
Claimants’ costs
Legal representation costs for employment investigations
Cost of paying wages from date of dismissal to date of judgement if your company is ordered to reinstate or re-engage an employee
Punitive and exemplary damages where insurable by law
Acts committed before the start of the policy

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