D&O Insurance Rates Spike For Financial Firms

Law360, New York (February 24, 2009, 12:00 AM EST) -- Caught in the eye of the economic storm, U.S. financial services companies now are also paying the highest premiums for liability insurance that covers their directors and officers, a forthcoming survey shows.

The survey, done by Carpenter Moore, a NASDAQ OMX company, revealed that financial services firms are paying higher rates for D&O coverage than companies in all other industries. D&O rates for financial services firms have even surpassed those paid by life sciences and technology companies, which paid the highest premiums in 2007, according to...
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