PUBLISHED ON: October 16, 2008
Will the credit crisis, like a black hole, draw most financial institutions—including major insurance companies —inwards towards crushing destruction? Have we passed a “point of no return” in the credit crisis and will the multi-faceted effect upon D&O liabilities as well as liability insurance companies change D&O insurance as we know it? The worst of times may be ahead.The savings and loan crisis of the 1980’s resulted in the failure of over 700 savings and loan associations. That crisis resulted in a huge wave of lawsuits and follow-on insurance recovery disputes.