March 2004/3

The turmoil caused by a morass of US corporate scandals and the subsequent litigation that has followed, has led to insurers attempting to rescind Directors and Officers (D&O) cover, a London seminar heard last week.

Broker Willis has announced the resignation of three of its directors representing investment firm Kohlberg, Kravis, Roberts and Co, and the appointment of three new directors.

In his much-anticipated annual letter to shareholders, the world’s second richest man Warren Buffett railed against scandal-struck mutual fund companies and corporate greed, as his investment company Berkshire Hathaway unveiled profits that nearly doubled