The worst-case scenario from the subprime mortgage crisis would be bond insurer defaults, executives with the insurance broker Aon suggested.
If such an event should occur, the bond insurers' failure to cover losses would spell a serious downturn for the economy, they warned.
Their observations came as part of a Web seminar titled “Financial Reporting: Consequences of the Mortgage Market Meltdown,” moderated by Paul Graziano, executive vice president Aon's industry and product group.
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