US government action minimized D&O claims from SVB collapse: AM Best
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US government action minimized D&O claims from SVB collapse: AM Best

Silicon Valley Bank SVB headquarters and branch.jpg

Had the US government not stepped in to make all depositors whole following the collapse of Silicon Valley Bank (SVB), D&O claims would be much higher, according to AM Best.

The ratings agency said that without government intervention, underwriters of D&O insurance for start-ups and venture capitalists, as well as the financial-institution insurers supporting such entities, could have faced “financial distress”, as they are operating on thin capital.

David

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