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Chubb Survey: Companies Unprepared to Handle Risk Management

Study reveals that privately held companies are not protected from exposure to lawsuits and government fines

By Hannah Bender | Updated on October 31, 2013

Most privately held companies have not implemented risk management practices that provide adequate protection from exposure to lawsuits and government fines, according to Chubb’s 2013 Private Company Survey.

Based on interviews from executives at 450 U.S. for-profit private companies, the study’s key findings indicate that companies are relatively unprepared to handle issues involving data breaches, social media policies, and exclusionary hiring policies for those with criminal backgrounds, all of which could result in a potential liability. Results include:

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