With the number of wage and hour claims against employers on the rise, Marsh has launched a new insurance product that reimburses companies for defense costs, settlements, and judgments for actual or alleged violations of the Fair Labor Standards Act (FLSA) or similar state and local laws.
The Marsh Wage and Hour Preferred Solution is offered exclusively through Marsh and its international specialty placement broker Bowring Marsh. The policy provides up to $100 million of insurance coverage for wage and hour claims, which generally are excluded under traditional employment practices liability insurance policies. Examples of such claims include allegations that an employer failed to pay employees for overtime hours worked, failed to provide or pay for meal breaks and rest periods, or misclassified employees as exempt rather than non-exempt from legal overtime provisions.
The number of these claims filed in federal court under the FLSA
View the Original article
