Insurers told Madoff fallout may cost them dear

Michelle Worvell
05 Jan 2009

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

Jardine Lloyd Thompson (JLT) has warned that Bernard Madoff's alleged £32bn fraud could potentially have a huge impact on the insurance market.

Paul Towler, a partner at JLT, said: "The litigious environment that prevails means it's 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.

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 [email protected].

You are currently unable to print this content. Please contact [email protected] to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]anceage.co.uk

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

To continue reading...

Sign In

Access Insurance Age

You are currently on corporate access.