Labor Dept. Denies Adjusters' OT Claim
Claims adjusters are not entitled to overtime pay because they meet the exemption requirements in the Fair Labor Standards Act, according to a recent opinion from the U.S. Department of Labor.
The issue of whether insurers can compensate adjusters on a salary basis without overtime pay has been a subject of class action litigation in recent years, and an insurance industry expert said the statement from the Labor Department, while not legally binding, could be of major importance. However, an attorney who has represented adjusters called the finding a product of industry lobbying.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
