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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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America's Claims Executive Virtual Leadership Forum & Expo 2021Event

ACE Virtual Leadership Forum & Expo is the annual conference for Senior Claims Executives in Insurance organizations.

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America's Claims Executive Virtual Leadership Forum & Expo 2021Event

ACE Virtual Leadership Forum & Expo is the annual conference for Senior Claims Executives in Insurance organizations.

Get More Information
 

America's Claims Executive Virtual Leadership Forum & Expo 2021Event

ACE Virtual Leadership Forum & Expo is the annual conference for Senior Claims Executives in Insurance organizations.

Get More Information
 

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