Willis must battle raft of Stanford-related class actions in 2010
In its 2009 SEC annual report filing, international broker Willis updated the market on the barrage of class actions filed over its role as insurance broker to the disgraced Stanford Financial Group (SFG).
The litigation focuses on alleged "safety and comfort" letters produced and signed by the firm that were then sent to investors, claiming among other things that in order for Stanford Bank to qualify for coverage, it had undergone a "stringent Risk Management Review conducted by an outside...
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