Directors & Officers, Employment Practices Liability, Fiduciary Liability, Crime and Excess
On average, private companies have a one in 10 chance of being sued in any given year.
The Directors and Officers of privately-held companies have a lot at stake. Multifaceted exposure to liability places both personal as well as company assets at risk. Shareholders, vendors and customers represent the most common sources of claims.
A company’s own employees are a second source of exposure by way of claims of unfairness and mistreatment commonly referred to as Employee Practices Liability. There’s also Fiduciary exposure as a result of the handling of management pensions and benefits. As well, there’s Crime exposure from employee theft of costly inventory to the siphoning of funds via fraudulent accounting.
Fortunately all four common sources of exposure can be covered by Business Risk Partners.