December 14, 2015
Your Company is Exposed!
Executive Risk Coverage is now, more than ever, a necessary part of your business protection program. It helps protect your assets and reduce decision-based exposures in today’s litigious society. How would your company survive if a company officer carried out an embezzlement scheme for multiple years? What if employees were involved in a workplace violence incident? What would you tell an employee who sues for benefits mismanagement?
According to New York Based insurer Hiscox, average settlements and defense costs are about $125,000. With a $35,000 self-insured deductible, companies are looking at paying out an additional $90,000.
Top States for Employee Lawsuits
According to the 2015 Hiscox Guide to Employee Lawsuits, the following are the top states with the most likelihood of employees filing lawsuits as well as the chance of litigation in that state.
- 12. Missouri - 15%
- 11. Georgia - 19%
- 10. Tennessee - 20%
- 9. Arkansas - 22%
- 8. Illinois - 34%
- 7. Delaware - 35%
- 6. Mississippi - 39%
- 5. California - 40%
- 4. Alabama - 41%
- 3. Nevada - 47%
- 2. Washington - 65%
- 1. New Mexico - 66%
Avalon’s Executive Risk Protection program is a necessary part of your insurance program to protect assets and reduce exposures.
Our Executive Risk Protection Program includes:
- Directors & Officers Insurance
- Employment Practices Liability Insurance
- Crime Insurance
- Cyber (Internet) Liability Insurance
- Fiduciary Insurance