Argo Bermuda launches wage and hour liability cover

Argo Insurance Bermuda, part of Argo Group International Holdings Ltd., has launched wage and hour liability insurance, the Hamilton, Bermuda insurer and reinsurer said in a statement Friday.

Argo Bermuda’s professional lines team in Bermuda underwrite the coverage, which is designed for small to midsized U.S. companies of 10,000 employees or less in any industry, the statement said.

W&H insurance provides employers with defense and indemnity liability coverage for violations of the Fair Labor Standards Act or similar state and federal laws that govern employee compensation, it added.

“Over the past few years, the industry has seen an increase in the number of wage and hour claims filed on behalf of U.S. employees,” Sherron Williams, senior underwriter at Argo Insurance, said in the statement. “Working closely with our brokers and insureds, we have developed our W&H product to meet this clear and growing need.”