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Billions in Lehman Claims Could Bury an Elusive Insurer

07/31/2009 • CNBC

psst...also insure government sachs! The worry is that the company, which has never paid out a claim, might be unable to cope with the Lehman bankruptcy. If it were overwhelmed by claims, the banks and brokerage companies that own Capco, as it is known, could end up owing billions of dollars. By some industry estimates reviewed by the insurance department, Capco could face nearly $11 billion in claims but has only about $150 million with which to meet them. The state is examining whether the company sold policies without the means to cover them

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