Reinsurance Roundtable – Teresa Zink Interviews Edward Krugman on the Impact of the Subprime Crisis on Reinsurers: Allocation, D&O and E&O
Edward Krugman, partner, Cahill Gordon & Reindel LLP, and HB Litigation Conferences LLC, formerly Mealey's Conferences
Teresa Zink interviewed a team of top reinsurance experts for the inaugural issue of the Reinsurance Roundtable Continuum, a monthly journal of insights and analysis from the best reinsurance law minds available. One of them was Edward Krugman, a partner with Cahill, Gordon & Reindel of New York. Teresa interviewed Krugman after he spoke at the Global Reinsurance Forum in Boston, and you can listen to Teresa read this article.
Krugman begins by answering the question: where is the activity going to take place in the wake of the subprime crisis.
“The action is going to be D&O and E&O,” Krugman predicts. The answers for reinsurers are going to come down to reinsurance treaty language: Who has treaty protection? How does it read? “None of these are going to be facultative issues,” according to Krugman. “These are all treaty issues.”
For the most part, according to Krugman, “the reinsurance-type issues are fairly well known and understood. There are going to be allocation issues, there are going to be aggregation issues, there are going to be occurrence issues.”
HB Litigation Conferences LLC, formerly Mealey’s Conferences, is a leading provider of legal education conferences, teleconferences and multimedia content covering insurance, reinsurance, toxic torts, products liability, construction defects, and complex commercial and financial litigation. It is an independent provider whose goal is to create premium networking and educational events for attorneys and executives.
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