If Merrill Lynch didn’t know the value of the assets on their books and had to take an $8 billion-plus write-down for subprime mortgage-related securities, how can directors and officers insurance underwriters possibly know if financial disclosures are appropriate?

Jack Zwingli, chief executive officer of Los Angeles-based Audit Integrity, a forensic accounting firm, asked the question during the Professional Liability Underwriting Society International conference last month, noting that issues facing D&O insurers thanks to the subprime mortgage crisis are just a small part of a larger challenge–the need to get their arms around the degree of transparency and the quality of disclosure at financial institutions.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.