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Time Is Right For ClaimMade Settlements In Securities Fraud Class Actions

Time Is Right For ClaimMadeSettlements In Securities Fraud Class Actions Industry commentators share little doubt that we are in an ever-hardening directors & officers insurance ...

By Joseph P. Monteleone | Updated on December 09, 2001

Time Is Right For ClaimMadeSettlements In Securities Fraud Class Actions

Industry commentators share little doubt that we are in an ever-hardening directors & officers insurance market, a phenomenon that began earlier this year with fairly regular and sustained premium increases on renewals of expiring policies.

Concurrently, there has been an increase in the cost of reinsurance and a shrinkage of reinsurance capacity, as well as restrictions in the scope of coverage under the policies through more broadly-worded exclusions and introduction of significant coinsurance and/or pre-determined allocation factors.

While many of these factors were present in the last sustained hard market in the 1980s and seemingly will enable prudent insurers to write more D&O business, there is another compelling factor that should not be overlooked if either insurers or their policyholders are seeking to level the playing field with plaintiffs shareholders interests.

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