Delaware Business Insurance Update from CNC Insurance Associates Inc. "Wage and Hour Claims Ramping Up" 3-23-15

Business owners are barraged with numerous Federal and State regulations every time they open their doors. The latest that is getting everyone's attention is wage and hour compliance. The Federal government recently announced they will be tightening the rules and looking for stricter compliance with the Fair Labor Standards Act , wage and hour rules. This has spawned an uptick in litigation against employers.  Workers who feel they were unfairly compensated because of their hours being deducted or their wages cut, are filing suits.
Small business owners are going to have to be more diligent in how they pay and keep hours for their employees. From a risk management perspective, self audits are necessary every year to make sure you are following the rules. You may also want to add wage and hour coverage to your insurance portfolio, mainly by endorsing your EPLI policy.
This is not going away anytime soon, so you will need to tackle it head on. Consult your attorney and risk professionals to help with assessing your risks for wage and hour claims. Until next time be careful out there and know your risks.


G. Kevin Nemith,  President CNC Insurance Associates Inc, & The Small Business Insurance Center
Serving DE,MD,PA,NJ & VA
www.cncinsurance.com
www.bizinsurancetv.org

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