ACE American Insurance Co. recently filed a lawsuit against OneBeacon U.S. Holdings Inc. In its lawsuit, filed in Pennsylvania, ACE alleges that OneBeacon poached the entire eight member-team that made up ACE’s East Coast Surety Department.
What’s more, ACE charges that OneBeacon “conspired” with these employees to “steal ACE trade secrets while they were still employed by ACE and deliver them to OneBeacon upon their coordinated resignations from ACE.” All eight employees resigned from ACE on July 30, 2012, ACE states in its complaint. After resigning from ACE, the complaint states, the eight employees “were hired by OneBeacon, and in fact became OneBeacon’s surety department.”
“Prior to July 30, 2012, no surety department existed at OneBeacon,” ACE states in the complaint, adding that OneBeacon’s surety department is now “largely or exclusively” comprised of these former ACE surety employees. The case is ACE American Insurance Co. v. OneBeacon U.S. Holdings, U.S. District Court of Eastern District of Pennsylvania, Aug. 17, 2012.
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