Sharp declines in securities fraud class actions that threaten to lull directors and officers liability insurers into complacency deserve closer scrutiny, one leading insurer has warned.
John Degnan, vice chairman of Warren, N.J.-based Chubb Corp., gave a new perspective on widely reported statistics that show securities class actions plunging 38 percent in 2006.
The former New Jersey attorney general told D&O underwriters and brokers gathered here at the recent Professional Liability Underwriting Society's Annual D&O Conference to pay attention to the lessons of the past, urging them to remain vigilant about potential changes in a currently calm D&O landscape.
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