Chubb says there is a “general lack of concern” among surveyed public companies that their directors and officers will face a lawsuit.
According to the survey of 145 public companies, 80 percent of them think it is unlikely their executives will be sued.
“No one thinks they are going to get sued, but we are paying a lot of claims,” says Evan Rosenberg, senior vice president and global specialty lines manager for Chubb. He calls the results of the survey “disconcerting,” since 23 percent of the surveyed companies admitted their directors and officers have faced lawsuits in the past.
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