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Up Against The Clock: Insurers Avoiding Coverage Of Wage & Hour Claims

While there is sizable demand from insureds for coverage against the increasing tide of wage-and-hour claims made under the Fair Labor Standards Act, carriers remain largely reluctant to write policies—fearing a good chance of losing their shirts if they do.

By Mark E. Ruquet | Updated on March 25, 2011

While there is sizable demand from insureds for coverage against the increasing tide of wage-and-hour claims made under the Fair Labor Standards Act, carriers remain largely reluctant to write policies—fearing a good chance of losing their shirts if they do.

Costly—and highly unpredictable—litigation is mushrooming over the issue, and if an underwriter is not careful, it can be “a great way to lose money,” says William Boeck, senior vice president, insurance and claims counsel for Lockton Financial Services, a unit of Kansas City, Mo.-based insurance broker Lockton.

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