GBN Worldwide is pleased to announce a business development partnership with Concordia Employment Services Ltd (Concordia). Headquartered in London, Concordia is an underwriting agency specialized on providing a comprehensive risk management solution to employers faced with the growing risks of employee led litigation.
This risk is usually associated with the US court system. Yet, the risks faced by UK employers to be taken to court by employees, former employees and even failed job applicants or contractors for unfair dismissal, discrimination, victimization or harassment, to name a few, are no longer dissimilar to their US peers. The risks are significant and a daily reality to business managers. All cases do not always end up in court, but they tend to be more frequent, more complex, and more expensive to defend as well as to settle.
This year, in the UK:
- 150,000 cases are expected to be formally initiated by employees against their employers
- the highest court award has reached £3.2m($5m)
- Typical defence costs for any discrimination case are £50,000 ($75,000), let alone for the more complex ones.
The frequency and severity of this risk now requires employers to adopt a risk management mind-set. Concordia is responding to this challenge by taking an insurer’s approach to these risks. Its comprehensive risk management approach delivers:
- Risk Prevention by providing their clients with the right foundations by way of corporate policies compliant with employment law, and skilled based training for employers to manage staff performance and conduct while avoiding the litigation pitfalls;
- Engaged Claim Mitigation by providing clients with employment relations expert support throughout the entire case management process
- Enhanced Financial Protection through a bespoke Employment Practice Liability Insurance (EPLI) policy.
Concordia’s offering is specifically designed for UK based companies (including UK subsidiaries of foreign multinationals). The insurance policy it provides through selected highly rated insurance carriers provides broad coverage and limits up to £10 million.
“We are very excited to team up with GBN! GBN members will now be able to offer their clients with UK operations a differentiated offering regarding a risk that has high impact, financially and operationally on any business. We can handle the local client management and deliver personalized services by assisting the local operation deal with those difficult employment situations. These cases are highly disruptive and expensive to sort out. We provide a peace of mind by bringing in experts at the earliest stage, and by delivering a best in class insurance protection.” Philippe Gouraud, CEO, Concordia
Please join network management in welcoming our new partners at Concordia and visit their website for more information (www.concordia-employment.co.uk) or call +44 3300 889 637
For more information on GBN Worldwide please contact info@gbnworldwide.com or call 001.312.724.8074
GBN Worldwide Ltd. and GBN Worldwide USA Inc. do not provide brokerage services. Insurance products and services are provided by network members who are licensed within their home venue. These members are not employed by any GBN Worldwide legal entity. Each member is an individually owned entity responsible for compliance with all regulatory requirements of their given country or countries.
Products and services are offered through individual members of the GBN Worldwide Network, not through GBN Worldwide Ltd. or GBN Worldwide USA Inc. Some services require additional fees and may be offered directly through third-party providers.
