Ace Group says competitor OneBeacon and eight former Ace employees conspired to steal trade secrets before their “coordinated resignations.”

In a lawsuit filed in U.S. District Court in Eastern Pennsylvania by Philadelphia-based Ace American Insurance Co. against OneBeacon U.S. Holdings, Ace claims its entire East Coast surety department resigned during the afternoon of July 30 within a span of about 15 minutes.

Each former Ace employee was hired to “largely or exclusively” comprise OneBeacon's surety department, alleges Ace.

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