Acadia to offer employment practices coverage

WESTBROOK, Maine – Regional insurer Acadia Insurance Co. will start offering employment practices liability insurance coverage to certain small business customers in Rhode Island, beginning Sept. 1.
The company, based in Maine, said the policy would provide coverage in cases such as age, race and disability discrimination claims, as well as claims of sexual harassment and retaliation.
In a news release, Acadia cited statistics from the U.S. Equal Employment Opportunity Commission that indicated, in 2009 alone, there were more than 90,000 lawsuits resulting in verdicts valued at more than $376 million.
“Employment-related lawsuits are a serious hazard to all businesses regardless of size, but unfortunately for small business owners, one single employment-related lawsuit can drain them of their time, money and even their business,” said Bobbi Amero, Acadia’s chief underwriting officer.
The company said new and existing AcadiaAdvantage customers on business owner policies and package policies with liability premiums up to $7,000 are eligible for Acadia’s employment practices liability insurance coverage.
The policy will include a $100,000 limit, $5,000 deductible, defense cost coverage within limit and claims made coverage.
Acadia is rolling out the employment practices liability insurance in Maine and Connecticut on Sept. 1 as well. Customers in New Hampshire will be eligible on Oct. 1. Acadia is seeking approval for the coverage in Massachusetts, New York and Vermont.
Acadia Insurance is a regional company offering commercial and specialty property casualty insurance coverages through independent insurance agents with local offices in Connecticut, Maine, Massachusetts, New Hampshire, New York and Vermont. Rated A+ (Superior) by A.M. Best, Acadia Insurance is a subsidiary of W. R. Berkley Corporation (NYSE: WRB), one of the nation’s premier commercial lines property casualty insurance providers, and one of the 50 largest diversified financial companies in the United States. Additional information is available at www.acadiainsurance.com.