Wage-and-Hour Suits: Must Read Labor Day Report! - 25% Discount

Advisen

Wage-and-Hour Suits: Must Read Labor Day Report! - 25% OFF SALE

Advisen

Wage-and-Hour Suits: A Major Uninsured Exposure

A recent survey of 1800 organizations revealed that one-third of the organizations responding to the survey had been hit by a wage-and-hour law suit over the past year. Wage-and-hour lawsuits have surpassed employee discrimination suits, measured by both number of filings and size of settlements. Most insurers have shied away from covering these suits, leaving companies with a substantial uninsured exposure to loss. According to the survey, there is tremendous exposure with an average settlement of $23,500,000 at the federal level and $24,400,000 at the state level.¹

Advisen’s 21-page report, The Threat of Wage-and-Hour Lawsuits, is essential reading for risk managers and human resource officers. It also is of interest to brokers and underwriters grappling with the insurability of this rapidly expanding exposure. The report examines the drivers of these suits, and explores recent developments in wage-and-hour litigation. Additionally, it includes a survey of insurers that provide coverage that may respond to these suits. This report is currently on sale at 25% off the standard price of $499m or $376. Purchase the report at The Advisen Corner Store, http://corner. advisen .com/reports_topical_ wage _hour_blurb.html.

The Wage-and-Hour Epidemic

The Department of Labor estimates that 80 percent of employers are not in compliance with applicable wage-and-hour laws. The retail sector has been targeted in many of the largest suits – Wal-Mart alone has been named in over 80 wage-and-hour class action civil suits, and has agreed to settlements in the hundreds of millions of dollars – but no sector is immune. Even companies primarily employing salaried professionals have been subject to large class action suits.

“Publicity surrounding changes made to the Federal Labor Standards Act in 2004 has been a catalyst for class action lawsuits,” explained John Molka III, the author of the report. “On top of that, enforcement efforts by the US Department of Labor have further stimulated class actions. American businesses are exposed to very large losses from these suits, but the insurance industry has been slow to respond with coverage for this risk.”

The Threat of Wage-and-Hour Lawsuits can be purchased for $376 at The Advisen Corner Store, http://corner. advisen .com/reports_topical_ wage _hour_blurb.html.

Wage-and-Hour Cases in Advisen Large Loss Database

Advisen tracks over 6,000 significant Employment cases and events. These records total more than $12 billion in loss and they range from Hostile Work Environment to Whistleblower/Retaliation to Discrimination & Harassment. One of the most rapidly expanding case types is Wage-and-Hour. There currently are 561 cases in the database. Call Advisen at +1-212-897-4800 for more information, or visit the Advisen Corner Store to purchase information on individual cases. Visit http://corner. advisen .com/analytics_mscad.html and describe the type of material you’re looking for.

1 Wage and Hour Litigation Tops List of Employment Class Action Claims, August 25, 2010