The collapse of the subprime mortgage market has sent directors and officers liability insurance rates skyrocketing–and the upward spike is likely to continue for the foreseeable future, an industry professional predicted earlier this month.

That forecast came from Greg Flood, president of IronPro, Ironshore Insurance's professional liability facility in New York.

Mr. Flood said that rates have jumped as stockholder suits have piled up. “The first quarter of this year, many programs rates have gone up 100 percent,” he said, following premium hikes of 30-to-35 percent in the fourth quarter of 2007.

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