Wage-and-hour claims present the next frontier for employment practices liability insurance writers looking to assure growth in a maturing market, experts say.
The offering by specialty lines insurer Beazley of Farmington, Conn., earlier this year of a new product providing wage-and-hour claims coverage separately underwritten on its stand-alone EPLI policy has put other writers of the line in a quandary.
Greg Draddy, assistant vice president for The Hartford, said his carrier is investigating offering such coverage. "It seems to be an area of the law where there is quite a bit of inconsistency from state to state, and a lot of change, so that makes it a very difficult issue to underwrite," he said.
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