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Company directors do not realize the full threat of their cyber-liability exposure, and they must be more aware of the legal hazards they face or risk litigation from investors and regulators, says an insurance broker.

Executives caught up in a regulatory maelstrom could get some peace of mind over who will pay their legal bills thanks to a new insurance product aimed at streamlining the directors and officers liability claims process, says Willis Group.

A recent publication from risk management and insurance intermediary Willis Group Holdings said securities class action filings in the United States between 2007 and 2009 were about 60 percent higher than in 2006.

The hard market for financial institutions' insurance is unlikely to last through to the end of 2010, according to the latest Willis FI Index from insurance broker Willis Group Holdings.

Hefty claims against financial institutions, sparked by slumping stock prices, has professional indemnity and directors and officers insurance prices soaring for that sector, according to a report from Willis Group Holdings' FINEX Global unit.

Hefty claims against financial institutions, sparked by slumping stock prices, has professional indemnity and directors and officers insurance prices soaring for that sector, a report said.

Over the last three months, London market insurers reported an average premium reduction of eight percent on renewal business for the commercial sector's directors and officers liability insurance , according to Willis Group Holdings.

In his new position, Mr. Wilson will focus on improving operational efficiency and supporting the strategic growth plan for the Global Specialties Division. He spent the last nine years with the firm