Limited amounts of directors and officers liability coverage, which defendant companies purchase in order to pay for attorney fees and settlements in shareholder lawsuits, could present obstacles for lawyers involved in those cases, particularly those against financial services firms filed amid the current recession.
Skyrocketing rate increases, and changes in the limits and types of D&O insurance being purchased, could curb the ability of both sides to access coverage for settlements in shareholder litigation, say attorneys who represent insurance firms and policyholders.
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