NEW YORK--Insurers providing directors and officers liability insurance should not become complacent after reports of a decline in securities fraud class actions, a Chubb executive said yesterday.
John Degnan, vice chairman at the Warren, N.J.-based insurer and a former New Jersey attorney general, voiced that view in reaction to statistics showing the number of such lawsuits plunged 38 percent in 2006.
He explained to his audience there is reason to be skeptical of such data.
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