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Publications
How Can Insurers Keep Control of Credit Derivative Exposures?
Insurance Day
September 2008
By:
Nick Miles
Nick Miles of Sedgwick's London office authored a timely article published in Insurance Day, investigating the historic legal issues and underlying mechanics of credit derivatives.
From the article:
Lehman Brother's filing for Chapter 11 protection, the Fannie Mae and Freddie Mac conservatorship and the fall-out from "Meltdown Monday" all placed terrific strain on the $62trn credit derivatives market. Insurers with exposure to these instruments will now be carefully considering their rights. They must ascertain whether recent events trigger credit protection obligations or entitle them to "close out" transactions.
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