US D&O Midyear 2005 update from Willis

Willis has produced its “Midyear 2005 Executive Risks Update” which reports on Directors & Officers Liability in the US. “Many in corporate boardrooms were stunned in the first half of 2005 by the twin settlements from WorldCom and Enron, in which independent directors personally committed significant portions of their individual net worth to settle claims alleging that they had essentially been asleep at the switch when fraud occurred at their companies,” said the report. “These settlements moved many to reconsider the amount, structure and breadth of their Directors & Officers (D&O) insurance programs.”