Subprime Cases May Cost D&O Insurers $3B: Broker

Law360, New York (November 14, 2007, 12:00 AM EST) -- The effects of the growing subprime mortgage crisis have already touched borrowers, lenders and underwriters, and insurers are likely to be next on the list. Providers of directors and officers liability insurance may have to pay out as much as $3 billion to cover claims from executives, according to the estimates of one insurance broker.

U.K.-based Willis Group Holdings Ltd. issued an alert earlier this week warning that the total exposure for D&O insurers could amount to $3 billion as companies cash in their policies to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.