Claims for Deepening Insolvency Put Insurers, Directors, Officers At Risk
During these tough economic times, many businesses–both insurers and insureds–are facing tough, if not dire, economic straits. To make matters worse, the insurance industry is laboring under the estimated $40 billion in losses arising from September 11.
Some companies will inevitably be faced with the grim choice of fighting to stay alive or “pulling the plug.” Too often, a businesss management–officers and directors especially–believe they should go down with the proverbial ship. Even when their business is clearly heading toward its financial demise, they struggle until the bitter end to save it or just keep it alive.
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