Aon | Financial Services Group
Release Date: May 2023
EPL Advisor – Q2 2023
The Financial Services Group at Aon’s Q2 2023 EPL Advisor includes insights on employment practices risk issues, with particular focus on legal trends and law changes, the evolving marketplace, and claims.
The EPL marketplace experienced a flattening of pricing as of 2022, but pressure from an increased frequency of severe claims could drive pricing back up as we head further into 2023. Decreases were rare in 2022, however, flat renewal pricing did become more common at the end of 2022 and in the first quarter of 2023 in instances where there was not a negative claim development or significant employee headcount growth. The EPL market did not experience the significant decreases more common in the D&O marketplace. The moderating of pricing increase was driven by decreases in overall claims frequency, but pricing was supported by an in increase in claims severity.
If you have questions about your coverage or are interested in obtaining coverage, please contact your Aon broker. Discuss the EPL Advisor with Financial Services Group professionals Thomas Hams or Samantha Manfredini Look.
Managing Director and Employment Practices Liability Leader
Samantha Manfredini Look
Vice President, Employment Practices Liability Insurance