2008 was a remarkably eventful year, from the dramatic developments during the fall that rocked the financial markets to the changing of the guard in the Presidential election. Many of the events had a profound impact in the world of D&O insurance. In all likelihood, significant developments will continue to emerge during 2009 that will have implications for the D&O insurance marketplace.
In the latest issue of InSights (here), I review the past year’s most noteworthy events in the context of the D&O insurance marketplace. The article’s first section reviews the top ten developments in the world of D&O insurance during 2008. The article concludes with a perspective on what may lie ahead in 2009, including, in particular, a consideration of the impact that last year’s events could have on D&O pricing and coverage.
A separate addendum to the InSights article takes a closer look at the 2008 securities class action lawsuit filings.As the addendum details, the pace of shareholder lawsuit filings increased significantly in 2008. There were 224 new securities lawsuits filed in 2008 , which represents a 30% increase over the 172 securities lawsuits filed in 2007, and an 88% increase over the 119 filed in 2006.
The 2008 filing total also represents the highest annual filing total since 2004. Further, all signs seem to indicate that the heightened filing levels will continue into 2009.