Insight and Intelligence on the London & International Insurance Markets

4 February 2012

Stanford D&O insurers must wait for court hearing

26 April 2010

The Lloyd's and London market directors' and officers' (D&O) insurers that underwrote the $90mn+ policy for Stanford Financial Group (SFG) executives must pay out defence costs for at least another five months.

The D&O insurers last week discovered they will have to continue to shoulder the costs before being granted the opportunity to prove their exclusions have been triggered.

Early last week US District Judge Nancy Atlas scheduled a September hearing to determine once and for all whether Stanford or...

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