Nearly half of the executives who responded to the 2010 Chubb Private Co. Risk Survey expect their firms to add jobs by the end of the year. Fifty-four percent plan to expand product or service offerings, and 12 percent anticipate completing a major acquisition.
Thirty-six percent of respondents indicated that an employment practices liability (EPL) lawsuit was the loss event that would cause the most financial damage to their company. Employee theft (18 percent) and a breach of electronically-stored private customer data (15 percent) were also ranked as potentially damaging.
Nearly one in five (16 percent) of survey respondents anticipated that an EPL charge would be lodged against their firm in the next 12 months. Twenty-one experienced such an action during the past 5 years, with loss costs as much as $750,000.
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