The ForeFront Portfolio® on Chubb Marketplace

Decisions made by the boards of private companies are not immune from public scrutiny. Securityholders, employees, customers, suppliers, competitors, and even the government can sue a privately-owned or not-for-profit company and its board of directors.

More and more companies are finding out the hard way, just how complex the relationship between an employee and an organization can be. Employment-related claims for harassment, discrimination, wrongful termination, retaliation, defamation, unfair hiring practices, and other workplace torts — are steadily rising. Employment-related claims can have a serious financial impact on a company or organization’s bottom line.

Fiduciary Liability insurance plays a vital role in helping to protect companies, executives and employees against a wide range of claims involving the management and administration of their employee benefit plans. These claims can result in personal liability, exposing the personal assets of executives and employees.

A company’s assets are exposed to threats of embezzlement, fraudulent electronic funds transfer, forgery, robbery, safe burglary, and credit card forgery from “trusted” employees and cunning criminals alike. From fictitious employees, dummy accounts payable, non-existent suppliers, to outright theft of money, securities, and property — these frauds can go on for years, and when finally discovered, the ultimate impact can be enormous.