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Most company executives feel that their largest exposure to litigation as a privately held company is employment related. However, the claims experience of a major insurer in this area has proven otherwise. Over half of all claims received from privately held companies brought against the directors, officers or corporate entity have not included allegations of a Wrongful Employment Act.
Such claims have been based on theories as diverse as antitrust, breach of fiduciary duty, deceptive trade practices, unjust enrichment, fraud, misrepresentation, and securities violations. The insureds that are experiencing these claims are located all over the United States and operate in many different industries including advertising, biotechnology, communications, computers, healthcare, manufacturing, media, packaging, retailing, software, and transportation to name a few.
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