Insurance Market braces for hit from Madoff scandal

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Market braces for hit from Madoff scandal
Posted by insurance-newsJanuary 19, 2009
NEW YORK—Bernard Madoff’s alleged $50 billion fraud is likely to produce significant insured losses and put additional pressure on the industry’s already battered professional liability lines, observers say. Aon Benfield estimates the direct insured losses resulting from the investment fraud at $760