MeToo - Insurance

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An interesting consequence of this - from BoingBoing:

After #MeToo, whole industries have been blacklisted by insurers for sexual harassment liability coverage
A new report from Betterley Risk Consultants, shared with The Intercept, reveals that many of the world's largest insureres will no longer conside whole industries for "employment practices liability insurance" (EPLI), which covers liability from "sexual harassment, sex discrimination, and other employee claims."

Ten of the 32 largest insurers will no longer write EPLI policies for financial firms (brokers, investment banks, VCs, etc); eight will no longer sell EPLI coverage to entertainment and media companies. Also blacklisted are law firms, car dealerships, and other industries where "superstars" or "celebrities" or "high-billing rainmakers" have historically been able to get away with bad behavior so long as they continued to perform for the firm.

The blacklists mean that insurers that will extend coverage to the affected industry have a seller's market, with customers not able to shop around, and that means much higher prices and deductibles and lower caps on coverage; but more importantly, it requires that the companies seeking insurance demonstrate extensive institutional changes to minimize the risk of claims.

Interesting times. It is good that people are coming forward - non-consensual sex in the workplace should be rooted out and stopped. With power comes responsibility - to violate that is to violate the implicit trust.

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This page contains a single entry by DaveH published on February 2, 2019 1:28 PM.

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