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Lessons Of IPO Laddering Cases

Are there lessons for professional liability insurance underwriters and risk managers to take away from Credit Suisse First Bostons coverage dispute with its E&O insurers?

Rita Nowak, vice president of property and casualty for the Alliance of American Insurers in Downers Grove, Ill., said she cannot imagine how much more clearly errors and omissions, directors and officers, and other professional liability insurers could word their exclusions for fines, penalties and disgorgements. Nor can she imagine what more they can do.

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