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Unformatted text preview: rs Subsidiary Bankruptcy/ insolvency trustee Suppliers Company itself Internal Claims External Claims Competitors 32 3 4 Selection 11 50 Monitoring Other insured individuals (D&O) Tax authorities Employees Social security Roughly 80% in the areas of monitoring and organization Organization Investments Production Figure 5: Source of D&O claims in Germany (percentage) $1,100,000,000 AOL Time Warner Royal Ahold Sources: Cornerstorne Report “D&O Litigation Trends in 2006” / Aon, June 2009 * All settlements are the cumulative result of multiple suits some suits are still outstanding $3,591,000,000 $3,724,000,000 Cendant $8,138,000,000 $7,640,000,000 WorldCom Amount paid out to claimants Enron Company Largest securities settlements in the US* 7100 billion 7300 million or more, usually with excess layer cover 72 million Typical cover 30 55 80 100 Policy limit € million 710 million Primary layer Up to $30mn First excess layer 25 mn xs 30 mn Second excess layer 25 mn xs 55...
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This note was uploaded on 01/18/2014 for the course BEPP 305 taught by Professor Nini during the Fall '11 term at UPenn.

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