Subprime Suits May Cost Insurers $3.6B: Report

Law360, New York (February 7, 2008, 12:00 AM EST) -- Though Wall Street's biggest banks have already been hit hard by the subprime mortgage crisis, for some players in the industry, the worst is yet to come. A new report projects that providers of directors' and officers' liability insurance could face $3.6 billion in costs stemming from subprime-related litigation.

The report, compiled by insurance industry analyst Advisen Ltd. and set to be released on Monday, “forecasts D&O losses of about $3.6 billion, most of which will be borne by a small group of financial institution D&O...
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