The Enron Corp.'s $365 million agreement to settle claims from employees who lost retirement plan money when the company stock plunged should alert many corporate risk managers to beef up their fiduciary liability insurance==if they can get it, two experts said.
Their comments followed Monday's announcement by Secretary of Labor Elaine L. Chao of a settlement giving the Enron 401(k) and employee stock ownership (ESOP) plans a general unsecured claim of $305.36 million in Enron's bankruptcy.
The proposed settlement also gives Enron's cash balance plan a claim of $50.89 million.
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