The Hartford Financial Services Group Inc. filed a lawsuit this week that includes a lengthy, detailed complaint against its competitor New York-based Arch Insurance Group Inc., and its Bermuda-based parent Arch Capital Group Ltd., accusing Arch of stealing trade secrets in addition to many of its underwriters.
The lawsuit, filed in New York Supreme Court, also alleges individual complaints against former Hartford executives who helped Arch try to "destroy" the division they had departed—most notably David McElroy, a Connecticut resident who spent nine years at the Hartford, and was president of New York-based Hartford until June 5, according to a MarketWatch report. The complaint, which details "egregious, ongoing misconduct orchestrated by a competitor and several former senior executives," also names John Rafferty and Michael Price.
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