Not every financial meltdown fuels a securities class-action litigation crisis, say two directors and officers liability insurance experts who don't foresee major D&O market impacts from the unraveling of subprime mortgage lenders.

Stock market watchers have pointed to news that lenders would incur damaging levels of loan losses and liquidity issues as one of the sparks of a wider sell-off that plunged major stock market indices to worrisome levels last month. But the next options backdating scandal is not around the corner, D&O experts say.

So far, class-action lawsuits have been filed against at least three publicly traded subprime lenders–New Century Financial, NovaStar Financial and Accredited Home Lending–whose stocks fell after negative earnings announcements.

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