Ah, 2008. The year the housing bubble burst and took everyone from you and your next door neighbor, to the banks, investors and insurance companies down with it. Unsinkable businesses faltered. Some even failed.
Eight years later the world is still in recovery. As the details continue to shake out, the insurance industry is just beginning to make the necessary changes to properly safeguard against the next financial crisis.
One area where drastic changes are being made is Directors & Officers (D&O) professional liability, particularly for financial organizations. D&O insurers continue to get hit hard by the fallout from decisions made by their insureds that contributed to the latest recession.
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