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Private Firms Short On Mgt. Liability Cover

A third of private companies do not purchase any type of management liability insurance even as they increasingly enter business areas once considered the domain of large public companies, according t

By Arthur D. Postal | Updated on March 31, 2006

A third of private companies do not purchase any type of management liability insurance even as they increasingly enter business areas once considered the domain of large public companies, according to the 2005 Chubb Private Company Risk Survey.

The new survey was revealed at the recent Inc. 500 Conference, held by Inc. magazine to highlight achievements of creators of the 500 fastest-growing private companies in America. Marketing Leverage Inc., a market research firm in Connecticut, conducted the survey. The firm interviewed the chief executive, financial and other top officers at 451 privately held U.S. companies in 46 states, according to Chubb.

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