Despite an increase in wage and hour claims led on behalf of U.S. employees, particularly on a class or collective-action basis, the U.S. SME insurance market was not meeting the need for this niche product.
Argo Insurance’s tailor-made product protects small to midsize U.S. enterprises with 10,000 or fewer employees from any industry or state. W&H insurance includes defense and indemnity liability coverage for violations of the Fair Labor Standards Act, or similar state and federal laws that govern employee compensation.
Wage and hour defense and indemnity liability
Coverage for violation of the Fair Labor Standards Act or similar state laws
Insured controls defense of claims
Coverage for independent contractors
Policy applies to claims first reported to the insurer during the policy period.
Offered through Bermuda and non-U.S. domiciled brokers
*Coverage is always subject to all of a policy’s terms and conditions. This is a summary of certain key aspects of coverage. Review the policy form for complete terms and conditions.
Maximum capacity: $15 million
Minimum SIR: $500,000
Minimum limit covered: $1 million
Information Required for Indications**
Wage and hour five-year litigation history
Employee count, by state, including exempt and non-exempt split
**Underwriter may require additional information, including Argo application, prior to issuing a formal quotation.