Civil and criminal litigation stemming from the subprime credit crisis will undoubtedly grow and engender insurance coverage claims under directors and officers and professional liability policies.
Through the first seven months of the year, this is just a sampling of the investigations and legal actions that have been reported:
o In July, the FBI's criminal investigation into potential corporate fraud in the U.S. home mortgage industry had grown to 21 companies, up from 19 in April, according to July 16, 2008 Reuters report.
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