Insight and Intelligence on the London & International Insurance Markets

6 September 2010

Search archive

Advanced search
Other articles of interest
London D&O insurers have already paid $15mn ahead of Stanford trial
Stanford underwriters stand firm
Stanford D&O insurers must wait for court hearing
SEC accused of sitting on Stanford fraud for a decade
Stanford seeks fourth new attorney in a year

See our other sites...

Stanford shows fraud exclusion isn’t always enough

31 March 2010

The potential pitfalls of writing directors' and officers' (D&O) coverage for financial institutions have been highlighted once again in the fallout from the long-running Stanford coverage dispute.

Demonstrating that a fraud exclusion is not enough, US courts have ruled that Lloyd's and London market insurers that underwrote the $90mn+ policy for Stanford Financial Group (SFG) executives must pay-out on defence costs.

The US appeal judges rejected the London insurers challenge even though the insureds may be later found guilty of...

You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.

Purchase


This article was published as part of issue April 2010/1

Insider Publishing Limited - 2nd Floor Asia House, 31-33 Lime Street, London, EC3M 7HT, United Kingdom. The content of this website is copyright of Insider Publishing Limited 2010. All rights reserved Insider Publishing Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.

Π