Madoff Scandal Exceeds 119 Worldwide Cases
The global web of Madoff litigation is growing and becoming more complex. With new actions from South America and Belgium as well as from the Coughlin Stoia and Pomerantz law firms, the number of worldwide cases in Advisen's Large Loss database related to the Madoff Scandal is now 119. These 119 cases are a small part of our 27,500 online Large Loss archive. But when reviewed as a group, the 119 Madoff cases rank just below our top clash events like Subprime (681) and Stock Option Grants (278). If you need to track the details of the ever-expanding Madoff litigation, or if this data can help you avoid a related risk, find an exposure, or position a coverage need, turn to MSCAd, Advisen's Large Loss database.
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GIVE ME MADOFF ONLY
Advisen offers three ways to access our Madoff data on an ala carte basis. This is done via the Advisen Corner at corner.advisen.com (no www) where Advisen offers many of our Benchmarks, Form Comparisons and Industry Reports for sale on a one-off basis.
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BUY THE MADOFF 119 CASE DETAILS
Advisen is tracking 119 Madoff-related cases already filed globally, and more are being filed on a daily basis. License a listing of these 119 cases, a summary of each and the copies of the complaints where available.
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BUY THE MADOFF 119 CASE DETAILS + WEEKLY UPDATES
Subscribe to the Weekly Madoff Update Email. Each day sees new developments in the Madoff litigation. Subscribe to Advisen's weekly email to receive the existing 100 cases as well as a weekly update on the developments on these cases as well as new filings.
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BUY THE MADOFF WEBINAR FILE
Download our January 22 Advisen Webinar called "Madoff Litigation: D&O event, E&O event or non-event?" Back on January 22, when Advisen only had 55 Madoff-related cases in its database, Advisen conducted a webinar addressing the Madoff alleged Ponzi scheme and its implications for insurers. The audio and visual recording of the webinar is available for purchase.
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ADVISEN.COM CLIENTS GET MADOFF + EVERYTHING ELSE
Advisen.com clients see the 119 cases related to the Madoff Scandal in MSCAd, our Master Significant Cases and Actions database. It's entirely online. Use the Losses & Exposures dropdown menu, and select MSCAd. Click on the Related tab and then select Madoff 2008-2009. Here are all 119 worldwide Madoff cases.
Selling, buying or writing coverage is easier when you have 27,750 large loss examples at your fingertips. The Advisen Large Loss database totals $900 billion and covers cases that are Securities, Recalls, Product & Services, Employment, Professional Services, Cyber and more. Identify uninsured or underinsured exposures for your company, your clients, or within your portfolio. Justify higher limits by filtering our list to find the exact set that meets your criteria. Use this database to see which large losses might trip the new policy language.
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NOW OVER 27,750 LARGE LOSSES for $900 billion
Show case examples by category (eg cyber, employment, securities), cause (eg explosions, fire), company size (eg for market caps $1B - $2B), coverage type (eg D&O, Professional Liability), root cause (eg subprime, stock option grants, market timing, Enron, Contingent Commissions) or sort by dozens of other filters. Search this database by keyword (eg location, court, defendant) or by SIC code or industry. Track trends within industries and geographical locations to gain a wider understanding of the likely exposure, from which appropriate terms, cover and price can be driven through the underwriting process.
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BENCHMARK PAIN
Nothing helps to make your case better for higher limits than specific examples of losses that tripped up peer companies.
Why do companies buy Side A D&O coverage? MSCAd shows you a list of 398 Derivative Shareholder Actions, and the top five items on this list exceed $1.1B combined.
How big could an ERISA Class Action event become? Of the 150 items in MSCAd, Time Warners $100M event is the largest.
Advisen's Benchmarking tool shows what limits companies buy; our Large Loss database illustrates why those companies purchase those limit levels. Our data demonstrates the pain other companies have experienced. Export data to Word, download copies of complaints, and graph groups of related cases. Make your limits case by showing the pain.
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DO YOU WRITE NEW POLICY LANGUAGE?
If you are writing a new form for EPL that covers healthcare providers and services, would it be helpful to review our list of 204 cases totaling $904 million?
If you are drafting language for Cyber and Tech E&O for Universities, would you first want to review the details of our matching 272 events?
Advisen also has a collection of 2,619 forms online with wordings displayed by form or across all forms, so you can quickly see how other carriers worded their forms.
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FUEL YOUR PROPRIETARY MODELS
Several Insurance Companies (and some Reinsurers and Brokers, too) are using Advisen MSCAd data as a component of their proprietary models and predictive engines. Advisen offers regular extraction files combined and/or downloads of hundreds of other company demographic and financial data point values so you can focus on the development work that sets your company apart.
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CLASH EVENTS
For Reinsurers writing professional liability casualty treaty, a list of companies being sued can be very helpful. Cedents don't always point out which of their insureds are being sued, and a current list is hard to acquire.
Clash events are crucial for Reinsurers and Cendents alike to see aggregate exposures, so in MSCAd, where two or more losses are rooted to the same underlying cause, we link them and sum them. Today we have 664 loss events linked to the root cause of Subprime. Stock Option Grants has 264, Enron has 46, and Refco has 25. Sort our data by case type or industry and review settlements or status easily. You'll find Madoff listed here with 119.
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OTHER EXAMPLES of MSCAd
Show me just Securities Class Actions for companies with market caps between $50 million and $100 million.
Produce of list of large "scaffolding" or "stolen data" events by searching for keyword.
Give me a list of companies hurt by Subprime or CDOs or 693 other root causes.
Show me list of large wrongful termination or discrimination events.
What types of losses have impacted SIC codes for contractors or hospitals or food product companies?
Create a list of cases involving Coughlin Stoia Geller Rudman & Robbins LLP or KPMG or Morgan Stanley, etc.
Generate a list of refinery explosions
For each example above, re-sort according to filing or accident date, settlement amount or status, etc. Apply further filters to refine your list or search by keyword. MSCAd also displays the sum dollar total of known losses for your list which is great for underwriters and reinsurers.
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NEED ASSISTANCE?
To access Advisen's MSCAd, click on the Losses & Exposures dropdown menu and select MSCAd (Cases & Actions). If you'd like a free copy of our MSCAd QuickStart Guide, just let us know.
Contact us and we will walk you through MSCAd to find the right selection of losses for your situation. Reach your Advisen rep at [email protected].
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NEED JUST ONE OF 27,750?
If you don't have Advisen.com, you can still buy MSCAd one case at a time at the Advisen Corner. Visit http://corner.advisen.com/analytics_mscad.html, click on Analytics, and tell us which specific cases you need. We'll bill your credit card for each search and for each case download you want to purchase.
