On April 23, 2024, the U.S. Department of Labor (DOL) announced a final rule to amend current requirements employees in white-collar occupations must satisfy to qualify for an overtime exemption under the Fair Labor Standards Act (FLSA). The final rule will take effect on July 1, 2024. Increased Salary Level The FLSA white-collar exemptions apply to individuals in executive, administrative, professional, and some outside sales and computer-related occupations. Some highly compensated employees may also qualify…

Amid challenging market conditions, most EPL insurance policyholders have experienced ongoing rate jumps, underwriting scrutiny and limited capacity over the last several years. The immensity of such premium increases and coverage limitations varied based on sector, location, potential exposures and prior losses. Additionally, retention increases became the norm across the segment, with further pressure on primary retention. Fortunately, these conditions have slightly cooled in the past 12 months, allowing for rate deceleration. According to industry…

Throughout the past five years, the D&O insurance segment has been characterized by frequent and abrupt changes, largely brought on by technological advancements and evolving cyber risks; environmental, social and governance (ESG) developments; and litigation shifts. According to industry data, the majority (between 75% and 96%) of publicly traded companies experienced ongoing rate increases from 2018-21; yet, by the first quarter of 2022, only about one-third (34%) of such policyholders encountered rising premiums. This market…