Why The Corporate Governance Crisis Didnt Kill The D&O Insurance Market If you thought the crisis in corporate governance was over, think again. After a brief lull during the latter half of 2002, corporate malfeasance is once again making headlines, despite the din of war.
Whats worse is that there is every indication that the well of corporate greed may run much deeper than previously understood, leading to an enormous reservoir of potential plaintiffs in future shareholder class action suits against corporations in every industry and of every size.
Recent revelations are left wanting in shock value only because the American public already holds Corporate America in such low esteem. In fact, a recent Wall Street Journal poll of prospective jurors found that 67 percent believe corporate executives will lie to increase profits. Yet jaded jurors are but one of many indicators that corporate chieftains, risk managers, regulators and law enforcement officials have their work cut out for them in the months and years ahead.
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