Tag Archives: Civil Money Penalties

FDIC Statement Inveighs Against D&O Insurance Exclusions and Coverage for Civil Money Penalties.

In an unusual step, the FDIC, the federal regulator responsible for insuring and supervising depositary institutions, has weighed in on financial institutions’ purchase of D&O insurance. The FDIC’s October 10, 2013 Financial Institutions Letter, which includes an “Advisory Statement on Director and Officer Liability Insurance Policies, Exclusions and Indemnification for Civil Money Penalties” (here), advises … Continue Reading
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