2024 EPL Insurance Market Outlook

Amid challenging market conditions, most employment practices liability (EPL) insurance policyholders have experienced ongoing rate jumps, underwriting scrutiny and limited capacity over the last several years. Fortunately, these conditions have slightly cooled in the past 12 months, allowing for rate deceleration. According to industry data, most insureds with good claims history encountered slight premium hikes ranging between 3% and 7% in 2023. Most insureds can expect another year of modest rate increases going forward; yet, policyholders with poor loss history or who operate in certain states and industries may continue to face more substantial rate hikes.

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