$50bn fraud could hit insurance hard

Paul Towler, partner at JLT, said: "The litigious environment that prevails means that its inevitable that financial institutions who invested clients' assets in Madoff's funds will face actions from disgruntled clients seeking to recover lost monies.

"The likely focus of clients will be the level of due diligence performed by the financial institutions. A range of insurance cover is available to protect firms and their clients from incidents such as this; however, the worry is whether they have

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: