Trouble Looms For Insurers As Securities Suits Jump

Law360, New York (May 1, 2009, 12:00 AM EDT) -- The global economic crisis, coupled with the Madoff scandal, has sparked an uptick in securities litigation, setting the stage for a potentially grim year for some insurance companies, according to a new study examining filings in the first quarter of 2009.

In the first quarter of the year, some 169 securities cases were filed, up from 134 cases filed over the same time period in 2008, according to a report released Monday by Advisen Ltd., a market information provider for the commercial insurance industry.

If the...
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