There has been a great deal written about the Madoff scandal that has hurt a tremendous number of persons. While the maximum potential exposed insurance limits resulting from the alleged Ponzi scheme run by Bernard Madoff, with lots of help from others, are estimated to be above $6 billion, the range of direct insured losses will be a far smaller number, most likely somewhere between $760 million and $3.8 billion. The best estimate is said to be $1.8 billion. That is according to an analysis by global reinsurance intermediary, Aon Benfield. The total losses from the Madoff Ponzi scheme are estimated to be over $50 billion.
Source: Insurance Journal
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