Ethan D. Lenz, Partner in Foley’s Insurance Industry Team, was quoted in Financial Week on August 11, 2008. The article, “Wave of Subprime Suits Could Boost Cost of D&O,” discusses the impact that class-action lawsuits relating to the credit crisis are having on companies that procure insurance for their board directors and corporate officers. Currently, only banks and financial companies, those who have been hit the hardest by the subprime crisis, are seeing a big rate increases for D&O premiums. Mr. Lenz adds that eventually, the impact will be felt across the board.
