The collapse of US energy giant Enron sparked a series of long and bitter court cases involving American insurers. Two major insurers indicated D&O policies covering Enron’s most senior people would not be honoured. The Royal Insurance Company of America (part of Royal & SunAlliance) and the St Paul Mercury Insurance Company filed submissions in the Manhattan Bankruptcy Court stating that when they issued the policies they relied on what turned out to be “material misrepresentations” by Enron. Nine other insurers that wrote D&O policies for Enron may yet follow their lead.