More Expensive Litigation Prompts More Insurance: Report

Law360, New York (October 9, 2006, 12:00 AM EDT) -- As the cost of settling securities class action lawsuits continues to rise, corporate risk managers are looking more to liability insurance for directors and officers as a way to protect the bottom line, according to a recent report.

In 2005, securities class action settlements totaled $17.9 billion, up from $5.5 billion in 2004, according to a report by ACE USA, the U.S.-based retail operating division of the ACE Group of Companies.

Excluding the Enron and WorldCom settlements, the average case was resolved for $71.1 million....
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