Tag: Florida

Florida passes sweeping reforms to fix crumbling property insurance market

By Anita Byer, Setnor Byer Insurance & Risk

Florida lawmakers just passed sweeping property insurance reforms to repair the state’s crumbling property insurance market. The Florida Legislature convened a second special legislative session in mid-December to address the current property insurance crisis. While significant reforms were passed during the first special session, they aren’t nearly as bold or consequential as the reform bill passed during the second, which was promptly approved by Governor DeSantis.

The bill contains comprehensive reforms intended to ensure Floridians have access to quality, affordable private market property insurance. The reforms, like the problems that prompted them, are wide-ranging and far-reaching. Many are significant. Some are unprecedented. Let’s review some of the bill’s key provisions.

Claims filing deadline. The bill reduces the amount of time policyholders have to file or reopen a property insurance claim from two years to one year. The time to file a supplemental claim is reduced from three years to 18 months.

Prompt pay laws. The bill amends Florida’s prompt pay laws to encourage the prompt payment of claims by:

  • reducing the time for insurers to pay or deny a claim from 90 to 60 days;
  • reducing the time for insurers to review and acknowledge claim communications from 14 to 7 days;
  • reducing the time for insurers to begin an investigation from 14 to 7 days;
  • reducing the time to conduct physical inspections from 45 to 30 days;
  • permitting insurers to use electronic methods to investigate losses and communicate with policyholders; and
  • requiring insurers to send an adjuster’s loss estimate to policyholders within 7 days after it is created.

Awards of attorney fees in litigation involving property insurance policies. The bill seeks to reduce frivolous litigation arising from residential and commercial property insurance policies by:

  • eliminating various one-way attorney fee provisions throughout the insurance code for suits arising from property insurance policies;
  • making the civil offer of judgment statute applicable to suits arising from property insurance policies;
  • allowing joint offers of settlement that are contingent on acceptance of all joint offerees; and
  • removing provisions regarding attorney fees relative to the alternative procedure for resolution of disputed sinkhole insurance claims.

Assignments of benefits (AOBs). The bill prohibits any assignment of any post-loss insurance benefit under any residential or commercial property insurance policy issued on or after January 1, 2023.

Bad faith failure to settle actions against property insurers. The bill provides that bad faith litigation for failure to settle a property insurance claim may not be filed until after the insured has established through adverse adjudication by a court that the insurer breached the insurance contract and a final judgment or decree has been rendered against the insurer.

Flood insurance notice. The bill amends the mandatory flood insurance notice by requiring it to be part of the declarations page and makes revisions to the content of notice to encourage purchase of flood insurance.

Arbitration. The bill allows insurers to offer (but not require) policies that include a mandatory binding arbitration clause. Insurers must also provide an appropriate premium discount in exchange for the rights given up by the policyholder.

Citizens Property Insurance Corporation (Citizens). The bill:

  • Increases Citizens’ renewal eligibility threshold for personal lines policyholders to make them ineligible for renewal with Citizens upon receiving an offer of comparable coverage from an authorized insurer for a premium that is not more than 20 percent greater than Citizens’ renewal premium.
  • Increases Citizens’ eligibility threshold for new commercial residential policies from 15 to 20 percent.
  • Requires that rates charged by Citizens be actuarially sound and non-competitive with the approved rates charged in the admitted market.
  • Increases the potential rates charged for property that is not a primary residence.
  • Repeals language allowing policyholders to return to Citizens as a renewal if the take-out carrier increases their rates above the Citizens’ glidepath.
  • Requires personal lines residential policyholders to have qualifying flood insurance to be eligible for coverage.

These, and other provisions within the bill, can fairly be described as the most significant property insurance reforms in recent history, but their effectiveness remains to be seen. Will they strengthen Florida’s property insurance market? Will Floridians soon see more options and lower prices? We certainly hope so, but only time will tell. In the meantime, our team is available to discuss how these reforms may affect your personal and commercial property insurance coverages.

Florida approves 8.4% workers’ compensation rate reduction for 2023

By Anita Byer, Setnor Byer Insurance & Risk

Florida employers will be paying less for workers’ compensation insurance in 2023. The Florida Office of Insurance Regulation approved an overall average statewide decrease of 8.4 percent in workers’ compensation insurance premiums. The rate decrease will apply to new and renewal policies beginning January 1, 2023. This is the seventh consecutive year workers’ compensation rates have gone down in Florida.

The 8.4 percent rate reduction was initially proposed by the National Council on Compensation Insurance (NCCI), a rating organization authorized to make rate filings on behalf of workers’ compensation insurance companies in Florida. The reduction was based on NCCI’s analysis of claims experience data for the 2019 and 2020 policy years as of year-end 2021. According to NCCI:

  • favorable claims experience has been observed during these time periods;
  • Florida’s frequency of lost-time claims (injured employee receives wage replacement benefits) has generally declined over the most recent eight years; and
  • Florida’s average indemnity cost per case have been relatively consistent over time, while those for medical have been slightly more volatile from year-to-year.

NCCI notes that the rate reduction not influenced by the pandemic as its analysis did not include COVID-19 claims data. Nevertheless, NCCI’s assessment of possible pandemic-related impacts revealed that:

  • most COVID-19 claims are medical-only or indemnity-only and continue to be small (less than $1,500);
  • large claims (over $100,000) account for fewer than 2% of all COVID-19 claims, but more than 60% of total COVID-19 losses;
  • most claimants were employed in the healthcare industry;
  • the average age of workers with large claims is 55, which is 8-10 years older than that those with non-COVID claims; and
  • COVID-19 claims decreased significantly in 2021.

Although rates are going down next year, NCCI cautions that inflation has the potential to negatively influence the workers’ compensation system nationwide. Wage inflation is a concern as many workers, particularly those in leisure and hospitality, have seen significant pay increases recently. This directly impacts the cost of workers’ compensation insurance because payroll is used as the base to calculate premium. Rising medical claim costs (medical inflation) can also lead to higher premiums.

Contact us to learn more about the upcoming workers’ compensation rate reduction.

Florida’s Property Insurance Crisis: Facts Behind the Myths

By Anita Byer, Setnor Byer Insurance & Risk

Florida’s property insurance market is in the midst of a crisis. According to the Insurance Information Institute, Florida’s domestic property insurers had net underwriting losses of more than $1 billion in both 2020 and 2021. In 2022, an unprecedented six insurance companies were forced into liquidation due to insolvency. Add to this the fact that a number of Florida’s property insurers are steadily reducing their exposure by writing fewer and more restrictive property insurance policies. To make matters worse, insurers are currently inundated with claims caused by Hurricane Ian, which is expected to be the costliest natural disaster in Florida’s history at a price tag of $50 billion, according to Corelogic. So, what does the future hold for the millions of Floridians who need property insurance? Fewer choices and higher premiums. We cannot continue down this path. Florida’s property insurance market must be fixed to prevent this crisis from becoming a catastrophe.

While the news may seem grim, and the future of the Florida insurance marketplace in question, it is possible to return the property insurance marketplace to profitability, which will also allow insurers to reduce premiums to affordable levels despite the 1350 miles of coastline exposure to high winds and flooding. But the system is in dire need of change, and this change will require commitment and compromise from all stakeholders, including insurers, insureds, lawyers and lawmakers.

In December, we will all be witness to, yet, another attempt by the legislature to repair what many refer to, in part, as a man-made insurance crisis brought about by fraud, inflated claims, litigation abuse, misguided government policies and some insurer mismanagement on claims settlement matters. To this, we need to seriously consider the implications of a Hurricane Andrew type event making landfall on the southeast coast of Florida and the estimated $72 billion insured loss price tag that will come with such an event.

The insured loss numbers are staggering, so it is critical to address the waste within the system so that all possible dollars are deployed for recovery, efficiently and fairly, and domestic property insurers returned to profitability. And, whether one considers insurance companies friend or foe, 2022 claims litigation expenses are more than double that of 2016, with over $3 billion, annually, spent by insurers for defense costs and containment, as reported by the Office of Insurance Regulation (OIR).  More sobering news from the OIR details that while Florida accounts for approximately 7% of all homeowners’ claims filed in the country, these claims account for nearly 80% of all countrywide litigation. Along with this data, it should be noted that business organizations across the state report that a majority of the excess costs built into the system never find their way to the rightful beneficiary — the insured.

Another important element to consider when looking at the property insurance crisis, is the dominance of Citizens, which has grown to insure over 1 million policies, largely in the southeast. It is the position of the business-leaning legislators that a state subsidized entity should not compete with private enterprise, and that Citizens needs to return to its original mission of being an insurer of ‘last resort.’ Citizens, with its actuarially unsound (suppressed) pricing, will shortly become the insurer of choice for many residents unless pricing more closely resembles the private marketplace. And, while many insureds may find that Citizens offers pricing at more affordable levels than the private marketplace, and would be reluctant to support legislation that requires Citizens to charge ‘sound’ rates, it should be noted that any financial deficits of Citizens following a storm will cause unheard of additional costs to insureds through a required assessment of up to 75%.

While a handful of legislators and insiders are in general agreement on how to address the waste and inefficiencies in the system, and are prepared to move forward with draft legislation, experts will tell you that the ultimate fix needs to include: laws that are fair and balanced; a robust consumer protection element for unjust claims settlements; temporary financial support from the state IF insurers are unable to secure affordable reinsurance at primary levels in 2023; and a fix to Citizens’ underwriting and pricing structure, so that the private marketplace can thrive. Most importantly, Florida needs to make changes to claims settlement matters that disincentivize wasteful litigation brought by plaintiff attorneys and keeps insurers accountable.

Without the inflationary claims defense costs baked into the system and the full burden of primary reinsurance costs that are expected to increase significantly, insurers will have a fighting chance to survive and offer Floridians property insurance at lower costs and with more favorable policy terms and conditions, eventually and hopefully.

Florida minimum wage increasing by $1 on September 30th

By Anita Byer, Setnor Byer Insurance & Risk

In case you forgot, Florida’s minimum wage is increasing by $1 at the end of the month. On September 30, 2022, Florida’s minimum wage will increase to $11 per hour. The minimum wage for tipped employees, which must be paid in addition to tips, will increase to $7.98 per hour. This increase is required by the $15 Minimum Wage Ballot Initiative (Amendment 2) approved by Florida voters in November 2020.

Amendment 2 increases Florida’s minimum wage incrementally over a period of years until it reaches $15 per hour in 2026. The first (and largest) minimum wage increase happened last year. Future increases are set to occur annually on September 30th per the following schedule.

2022                $11.00

2023                $12.00

2024                $13.00

2025                $14.00

2026                $15.00

Annual adjustments for inflation, which have taken place since 2005, are scheduled to resume September 2027. Florida’s Minimum Wage Act is interpreted and applied much like the federal Fair Labor Standards Act. Employers must pay no less than the federal minimum wage or their state’s minimum wage, whichever is higher. Florida’s 2022-2023 minimum hourly wage remains higher than the current federal minimum hourly wage of $7.25.

Florida’s constitutional minimum wage requirements remain otherwise unchanged by Amendment 2. Employers, for example, are still prohibited from discriminating or retaliating against employees for exercising their constitutional minimum wage rights. Employers can still be sued by employees and Florida’s Attorney General for violating these rights. These lawsuits are still expensive.

Covered employers are also still required to post the required minimum wage notice in the workplace. Per Florida law:

  • the notice must be posted prominently in a conspicuous and accessible place in each establishment where minimum wage employees are employed;
  • the poster must be at least 8.5 inches by 11 inches and in a format easily seen by employees;
  • the text in the poster must be of a conspicuous size;
  • the text in the first line must be larger than the text of any other line; and
  • the text of the first sentence must be in bold type and larger than the text in the remaining lines.

To reduce the likelihood of costly mistakes, employers should provide wage and hour training to managers and supervisors. Employers should also carry Employment Practices Liability Insurance with limited coverage for wage and hour claims. Contact us to learn more about protecting your business with Employment Practices Liability Insurance.

5 things condominiums need to know about Florida’s new “milestone inspection” requirement

By Anita Byer, Setnor Byer Insurance & Risk

Florida enacted a new “milestone inspection” requirement for condominium associations to ensure aging buildings remain safe for continued use. The hope is that a statewide mandatory structural inspection requirement will prevent a repeat of last year’s tragic collapse in Surfside, Florida. Here are five things every condominium association board member needs to know about Florida’s new milestone inspection requirement.

1. What is a milestone inspection? A “milestone inspection” is a structural inspection of a building, including its load-bearing walls and primary structural systems, by a licensed architect or engineer. Its purpose is to confirm the life safety and adequacy of the building’s structural components and determine its general structural condition as it affects building safety. A milestone inspection should include, to the extent reasonably possible, a determination of any necessary maintenance, repair or replacement of any structural component of the building.

2. When is a milestone inspection required? Condominium associations must have milestone inspections performed for each building that is three stories or more in height by December 31 of the year in which the building reaches 30 years of age, and every 10 years thereafter. If the building is located within three miles of a coastline (direct contact with the open sea), a milestone inspection is required by December 31 of the year in which the building reaches 25 years of age, and every 10 years thereafter. A building’s age is based on the date the certificate of occupancy was issued.

Note that if a milestone inspection is required and the building’s certificate of occupancy was issued on or before July 1, 1992, the building’s initial milestone inspection must be performed before December 31, 2024.

3. What is a phase one milestone inspection? A milestone inspection consists of two phases. For phase one, a licensed architect or engineer performs a visual examination of a building, including its major structural components, and provides a qualitative assessment of the building’s structural condition. If no signs of substantial structural deterioration are found, then a phase two inspection is not required. “Substantial structural deterioration” means substantial structural distress that negatively affects a building’s general structural condition and integrity. It does not include surface imperfections (cracks, sagging, signs of leakage, peeling of finishes, etc.) unless they are a sign of substantial structural deterioration.

4. When is a phase two milestone inspection required? A phase two milestone inspection must be performed if any substantial structural deterioration is identified during phase one. The inspection may be as extensive or as limited as necessary to fully assess areas of structural distress in order to confirm that the building is structurally sound and safe for its intended use and to recommend a program for fully assessing and repairing distressed and damaged portions of the building. The phase two inspection may involve destructive testing at the inspector’s direction, though preference must be given to locations that are the least disruptive and most easily repairable.

5. What happens after a milestone inspection? Upon completion of a phase one or phase two milestone inspection, the architect or engineer must submit a sealed copy of the inspection report to the condominium association, along with a separate summary of material findings and recommendations. A copy must also be furnished to the appropriate local building authority. The inspection report must include all the information required by the statute. Condominium associations must then distribute the inspector’s summary to each unit owner and post a copy in a conspicuous place on the condominium property. Associations required to maintain a website must also make the full report and the inspector’s summary available online.

The new law makes each condominium association responsible for arranging milestone inspections and ensuring compliance with the law’s requirements. Associations are also responsible for all costs associated with the inspection. Since this is a new requirement, condominium associations are strongly encouraged to consult with licensed professionals to avoid unintentional violations. Board members should also review their association’s Directors and Officers (D&O) insurance policy to confirm sufficient coverage. Because when it comes to safety, there’s no room for error.

Setnor Byer Insurance & Risk can help condominium associations and board members identify, manage and insure their unique risks. Please contact our team to discuss the various risk management services we provide our condominium association clients, including our Division-Approved New Board Member Education.

Are you ready for Hurricane Season 2022?

By Anita Byer, Setnor Byer Insurance & Risk

Did you know that the first week of May is Hurricane Preparedness Week? The National Oceanic and Atmospheric Administration sponsors this week to raise awareness of the hazards posed by tropical storms and hurricanes. And to encourage everyone at risk to start preparing now. Hurricane Season 2022 is less than a month away. Are you prepared? If not, NOAA offers the following tips to help you get started.

Determine your risk. Find out what types of storm-related wind and water hazards exist where you live. Hurricanes are not just a coastal problem. Dangerous and destructive winds and water can make their way hundreds of miles inland. Flooding can happen anywhere. Those living in unsound structures or flood-prone areas must know in advance if it’s safe to remain at home during a storm.

Develop an evacuation plan. Where will your family go if you are ordered to evacuate? Know your hurricane evacuation zone and develop an evacuation plan that specifies where to go and how to get there. Don’t forget your pets! They may not be allowed in shelters and hotels, so find suitable accommodations now so they don’t get left behind.

Assemble disaster supplies. Whether you’re evacuating or sheltering-in-place, you will need sufficient supplies to get through the storm and its potentially lengthy aftermath. Have enough non-perishable food, water and medicine to last each person in your family a minimum of 3 days (longer, if possible). Remember to get gas, cash, batteries and flashlights. Consider a portable crank or solar-powered USB charger for your cell phones.

Strengthen your home. Make sure your home is ready to withstand the wind, rain and flooding a hurricane can bring. Check to see if your home meets building code specifications. Consider retrofits, many of which are not as costly or time consuming as you may think. Renters should work with their landlord to prepare for a storm.

Help your neighbors. Talk to your neighbors about their hurricane plans and preparations. Discuss how you can help one another prepare before a storm and rebuild after.

Have a written plan. Preparing a written plan can help identify your family’s unique needs and understand what must be done to protect those you love during a storm. Write down your hurricane plan and make sure everyone in your household knows and understands it.

Get an insurance check-up. NOAA stresses the importance of insurance, particularly during hurricane season. Make sure you have enough insurance to repair or replace your home, car and any other property that might be damaged during a storm. Don’t forget about insurance for your business. Remember, standard policies do not cover flooding, so you will need a separate flood insurance policy for your home and business.

It only takes one storm to make it an active hurricane season for you. Take advantage of Hurricane Preparedness Week. Start preparing before the lines grow long and supplies run short. Contact our team of experienced and responsive insurance and risk management professionals to find affordable options to protect your home and your business in the event of a hurricane.

Florida Issues Updated COVID-19 Guidance for Child Care Facilities

By Anita Byer, Setnor Byer Insurance & Risk

The Florida Department of Health made significant changes to its COVID-19 guidance for child care facilities. On February 24, 2022, Florida’s Governor and State Surgeon General jointly announced the new guidance as part of their “Buck the CDC” initiative. Perhaps the most notable change to Florida’s COVID-19 guidance involves the wearing of face masks.

Unlike guidance issued by the Centers for Disease Control and Prevention, Florida is no longer relying on the wearing of facial coverings in community settings, including child care facilities. According to Florida’s Department of Health, “there is not strong evidence that facial coverings reduce the transmission of respiratory viruses.” As a result, the new guidance states that the decision to wear masks inside a child care facility should be left to each child’s parent or legal guardian.

The updated guidance also includes the following COVID-19 isolation recommendations.

1) If a staff member or a child at your child care facility tests positive for COVID-19 and is symptomatic:

  • The staff member or child should stay at home and away from others for five days from the date the symptoms began (if the staff member or child is experiencing symptoms).
  • The staff member or child can return to the child care facility on day six if they have been fever-free for 24 hours and symptoms, if any, are improving.

2) If a staff member or a child at your child care facility tests positive for COVID-19 and is asymptomatic:

  • The staff member or child should stay at home and away from others for five days from the date of the COVID-19 positive test.
  • The asymptomatic staff member or child can return to the child care facility on day six.

3) If a staff member or a child at your child care facility is exposed (within 6 feet for more than 15 minutes within 24 hours) to someone with COVID-19:

  • If symptoms of COVID-19 develop, stay home.
  • If asymptomatic, the staff member or child does not need to quarantine, however, continue to monitor for symptoms for 10 days after exposure.
  • Follow the guidance in section 1 if the staff member or child tests positive for or has symptoms of the virus that causes COVID-19.

Early Learning Centers and other child care facilities should review the updated guidance carefully to determine whether or to what extent Florida’s new guidelines may affect their current COVID-19 safety protocols. Please contact us for additional information about protecting your Early Learning Center during the COVID-19 pandemic.

Florida Home Inspections Will Soar Under Citizens’ New “Holistic” Plan

By Anita Byer, Setnor Byer Insurance & Risk

Citizens Property Insurance Corporation, Florida’s insurer of last resort, is planning to drastically increase the number of residential property inspections in the coming years. Citizens inspected roughly one percent of all its policies in-force last year and plans to inspect 2-3% of its covered properties by the end of this year. These numbers are expected to soar under Citizens’ new holistic inspection plan. So much so that by the end of 2025, Citizens plans to inspect approximately 20% of all its residential policies in-force.

Citizens’ holistic inspection plan has a greater focus on new business inspections and establishes condominium unit inspections. It also incorporates automation so a percentage of properties with little-to-no risk can bypass underwriting review. Citizens plans to use a new, lower cost, highly scalable Virtual Inspection type as well. According to Citizens, its 4-year plan to increase its inspection volume is going to achieve the following results.

  • Reduced Loss Frequency. Property inspections help guard against adverse selection, which is the tendency for people with the greatest probability of loss to be the ones most likely to purchase insurance. Citizens expects to see a 10-20% improvement in the overall impact on loss frequency for inspected policies.
  • Improved Premium (Pricing) Accuracy. Property inspections can help identify undervaluation concerns and maintain sound pricing models by validating rating and pricing characteristics.
  • Reduced Exposure in Private Market Assumptions. Private insurers need inspections when deciding whether to take policies out of Citizens. Citizens expects an increased assumption ration of 10-20% for inspected properties.

In addition to increasing the number of residential property inspections, Citizens amended its eligibility rules to make property ineligible for coverage when inspections reveal that it’s unsafe for occupancy or identify substantial structural deficiencies. They apply to residential policies that are written or renewed on or after October 15, 2021. Citizens already orders inspections for all new commercial property policies and plans to continue doing so through 2025.

Identifying ineligible properties will no doubt benefit Citizens, but what about the property owners? Many may lose access to the crucial insurance coverage provided by Citizens, Florida’s insurer of last resort. What happens then? If you have questions or concerns about Citizens new inspection plan, please contact our team of property insurance professionals.

2021 Hasn’t Broken Record for Most Billion-Dollar Climate Disasters (Yet?)

By Anita Byer, Setnor Byer Insurance & Risk

Did you know that the U.S. experienced 308 billion-dollar weather and climate disaster events since 1980? According to the National Oceanic and Atmospheric Administration, the total cost of these events exceeds $2 trillion. Since 1980, the U.S. averaged 7.1 billion-dollar events per year. In 2020, there were 22 billion-dollar events, the most in any single year…for now. You see, 2021 is already #2 on the list, and there’s still time left on the clock.

During the first nine months of 2021, we’ve already seen 18 billion-dollar weather and climate disaster events, including drought, flooding, severe storms, tropical cyclones, wildfire and winter storms. NOAA created the following map to show the approximate location of each event.

According to NOAA, these events resulted in the deaths of 538 people and had significant economic impact on affected areas. Unfortunately, billion-dollar events are happening more often than before. Over the past five years, the U.S. averaged more than twice as many billion-dollar weather and climate disaster events per year (16.2) than we averaged per year over the past forty years (7.1). This is also the seventh consecutive year with 10 or more billion-dollar events. These events are costlier too. The total cost over the last five years is nearly one-third of the cost total over the past 42 years—the highest 5-year cost average on record.

This disturbing trend underscores the need for adequate insurance coverage to protect against the financial losses caused by weather and climate disaster events. Property insurance has become an absolute necessity for homes and businesses nationwide. These policies do not cover flooding, so every home and business needs flood insurance too, regardless of whether the property is located in a flood zone. Why? There’s no such thing as a No-Flood-Zone!

Please contact us about affordable insurance options that can limit your loss during the next billion-dollar weather and climate disaster event.

Florida’s Minimum Wage Increasing to $10 Per Hour on September 30

By Anita Byer, Setnor Byer Insurance & Risk

The largest minimum wage increase in Florida history is just weeks away! On September 30th, Florida’s minimum wage will increase to $10 per hour. That’s $1.35 more per hour than the current minimum wage and $1.44 more than last year’s minimum wage. A quick peak at the calendar confirms that employers have plenty of very little time left to prepare for this historic wage increase.

The upcoming increase is required by the $15 Minimum Wage Ballot Initiative (Amendment 2), which was approved by Florida voters in November 2020. Amendment 2 increases Florida’s minimum wage incrementally over a period of years until it reaches $15 per hour. The first (and largest) increase will occur September 30, 2021. It will then increase annually on September 30th per the following schedule.

2021                       $10.00

2022                       $11.00

2023                       $12.00

2024                       $13.00

2025                       $14.00

2026                       $15.00

2027                       Annual adjustments for inflation resume.

As of September 30, 2021, a minimum wage employee working full-time will need to be paid an additional $54 per week. Depending on the workforce make-up, the resulting increase in payroll expense may be minimal for some and substantial for others. Nevertheless, all employers must plan and prepare beforehand to avoid unintentional, unnecessary and costly violations. Employers should also look beyond this year’s record-breaking increase when budgeting for payroll. There will be five more increases under Amendment 2, each of which is large enough to tie the current record for largest single increase in Florida history.

To reduce the likelihood of costly mistakes, employers should provide wage and hour training to managers and supervisors. Employers should also carry Employment Practices Liability Insurance with limited coverage for wage and hour claims. Contact us to learn more about protecting your business with Employment Practices Liability Insurance.