Risk Management

“Building your business should be your primary focus”

The FosterThomas Advantage enables you to concentrate on your company’s operations without the headache of stressing over insurance and the unknown of where your company is at risk.

Our risk management insurance experts:

  • Review your current liability plan
  • Review your current property plan
  • Review your claims utilization
  • Answer questions about contracts and associated insurance requirements
  • Make recommendations to implement risk reduction strategies
  • Advise if limits are too low
  • Advise on ways to mitigate damages should you experience a loss
  • Advise if you are missing necessary coverage
  • Prepare competitive cost analysis proposals showing options to meet your specific requirements

We take a unique HR related view of your business by preparing a comprehensive risk management strategy using our considerable leverage in the industry to secure the most competitive rates.  But don’t let our stature scare you…what distinguishes us from other insurance brokers is our “big picture” HR focus and our willingness to listen to our clients. We pride ourselves on our ability to develop insurance plans that suit a client’s environment and specific needs.

How we help you:

Employment Practices Liability Insurance

If an employer says they can’t afford EPLI then they really can’t afford a lawsuit with an average defense cost of $50,000. As the number of discrimination claims filed by employees continue to rise, it is becoming more important than ever for employers to protect themselves. Even if the employer did nothing wrong and had the proper training and procedures in place a suit can still be filed and the employer will still have to pay for legal defense.

EPLI Application

Defense Base Act (DBA) Coverage

  • DBA provides benefits in the event that civilian contractors are injured, killed, or kidnapped in the course of their work for US government agencies such as the various branches of the Department of Defense (DOD), U.S. Agency for International Development, (USAID), or the State Department.

Download our DBA Coverage Application to begin the steps toward protecting your most vital assets; your employees overseas.
DBA Application

Our risk management professionals specialize in executive management liability policies. We believe that proper coverage includes protection for the directors & officers of your company, the product or service you sell and lastly, company protection against claims arising from employment issues.

Professional Liability (E&O)

It is a common misperception that General Liability policies pick up coverage for your Professional Services should you be sued due to an Error or Omission (E&O). A majority of General Liability policies exclude Professional Services and can leave your company exposed to potential liabilities surrounding your product and/or service. E&O coverage protects your company from lawsuits and claims arising from allegations of error, omission, misconduct or professional negligence when performing professional duties. The financial loss due to having to defend against an allegation alone can destroy a company. E&O coverage provides the financial assistance to defend you in a court whether the claim is merited or not and if the suit is loss, the coverage pays for any monetary award.

Employment Practices Liability (EPL)

Unfortunately employees can pose as much as a financial threat to a company as an outside party. Employment related lawsuits have drastically increased over the course of the last three years. If you are a startup company just starting the interviewing process, or are a company of 2,000+ employees, make sure you are protected. Each year, companies find themselves in court against prospective, current and past employees for claims of sexual harassment, wrongful termination, religion based discrimination, sex based discrimination, failure to promote or employ, and breach of employment contract to label a few. Your company pays to be protected from third parties – make sure your company is protected from their own employees.

Directors & Officers (D&O)

Directors & Officers are at risk of claims being bought from various parties, including competitors, customers, suppliers, government, and shareholders. As a company’s HR professional, we urge you to make sure that you are properly covering your upper management. Directors & Officers coverage can protect both those individuals as well as the company name from any claim or allegation of wrongdoing in conjunction to those individuals performing their job duties. These individuals can also be at risk solely because they are Director & Officer of a company. Your company has made sure they have the necessary coverage in place to protect the office and employees – make sure your Directors & Officers are protected from their liability risks.

Learn more about our HR Regulatory and Compliance Consulting for Government Contractors

Learn More

FosterThomas writes policies with the nation’s top insurance carriers to provide the most competitive pricing and broadest coverage to best fit your company’s industry. All carriers that we work with have at least an “A” Rating with AM Best and can offer both admitted and non-admitted products.

  • Property/Inland Marine
  • General Liability
  • Employee Benefits Liability
  • Umbrella/Excess
  • Business Auto
  • Workers Compensation/Employer’s Liability
  • Professional Liability (Errors & Omissions)
  • Directors & Officers
  • Employment Practices Liability
  • Fiduciary Liability
  • 401k ERISA Bonds
  • Crime/Fidelity Bonds
  • International General Liability Package
  • Kidnap & Ransom
  • Defense Base Act (DBA)
  • Business Travel Accident
  • Builders Risk
  • Special Events
  • Tail Liability
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HR Outsourcing MD, DC, VA, PA