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“Some industries are more prone to claims than others.” Settlements of securities class-action suits often trigger DO insurance claims.The size of those settlements jumped 15.9 percent in 2005, to an average of .5 million, according to the Securities Class Action Clearinghouse at Stanford Law School in Palo Alto, Calif.
NEW YORK (Reuters) - The stock options timing scandal, which has already implicated at least 140 companies, could include hundreds more, according to a new analysis that found lax enforcement of corporate governance reforms that should have prevented the practice.
The cost of the liability insurance that companies buy to protect their board members and executives in the event of a lawsuit has declined steadily over the past few years.
But a new wave of corporate scandals in the form of stock-option backdating could make those cuts short-lived.
Between 20, the average DO premium for public companies decreased about 12.1 percent, according to a report from Tillinghast, an insurance consulting division of Towers Perrin in Stamford, Conn.
Other research firms that track DO insurance premium trends reported similar declines.