Insurance companies which are big writers of E&O & D&O insurance, such as AIG & Chubb as well as others, could face up to $19 billion in claims according to some analysts as a result of the subprime credit storm.
As an aside..professional liability loss reserve redundancies have been commonly reported by insurers over the last few years in what has been until now a very favourable claims environment. I wonder if some insurers have been a bit too hasty in releasing these reserves, it may come back to bite...I guess time will tell!
Anyway here's the link
www.propertyandcasualtyinsurancenews.com
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