Why EPL cover matters more than ever for financial services


EPL claims are rising fast. With new UK employment laws and cultural scrutiny, financial firms must act now to close coverage gaps and protect against costly legal risks. In an era of heightened employee expectations, evolving regulation, and increased scrutiny of workplace culture, Employment Practices Liability (EPL) insurance is becoming a strategic necessity.

Old Macdonald’s pension fund had IE01

DB Pension funds typically pay benefits with an inflationary uplift, so it makes sense for schemes to hold inflationary assets. So far, so good. But pension payments can’t go down, and typically any indexation is capped, most commonly at 5%. This means the indexation is not to RPI but to a capped and floored version of RPI, called LPI (here it would be LPI0-5). So, how much sensitivity do liabilities have to inflation? Ultimately, LPI is RPI with options- the scheme is long a call at 5%, and short a put at 0%. This has two major consequences.

The value of a modelling framework for insurers

At this year’s GIRO Conference in Liverpool, my colleagues at LCP gave several excellent talks on a range of topics – from claims analytics to reserve risk and even the future of the actuarial profession . I wanted to focus on a talk that I think is directly relevant to actuaries working in GI now and in the future. Emerging risk is a topic that actuaries must consider in all areas of their work. It is also proving a constant challenge for insurers to keep on top of.

Why insurance matters more than ever

 

Lifestyle Actuary

Dalriada Trustees Limited (Dalriada), one of the largest providers of professional trustee services to pensions schemes in the UK, has today announced the appointment of Sarah Brough as a professional trustee.

Lights Camera Actuary

For the next few months Zoe Bolton will be talking to the senior actuaries in these firms, getting a brief insight into their career paths and visions for the future. This month Zoe interviews Shil Patel the UK Managing Director at Dynamo Analytics

Travelling Actuary

This month's Travelling Actuary takes us to the iconic Boston to experience New England at it’s very best.

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