Company write-downs because of the drop in subprime mortgage values could result in more than $3 billion in losses for writers of director and officers insurance, a research and technology firm said today.
New York-based Advisen Ltd. announced that finding would be contained in a report it will on release Monday.
Advisen said the $230 billion in write-downs from the subprime mortgage crisis have sparked a barrage of securities class-action and related lawsuits that are likely to cost D&O insurers $3.6 billion.
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