Board of Director Fear Factor

I just started my review for a Northeastern bank.  One of my survey questions asks if there are any current concerns for the insurance.

Here was the reply: “Yes- the board is concerned about its own liability and whether the D&O coverage is sufficient.  They typically get more worried after attending a bank conference in which this matter comes up.”

Made me laugh. I often hear this comment. It seems that bank conferences often scare the bejesus out of people.  I remember the same thing about insurance conferences. At breaks, I would often hear people say that they were thinking about leaving the insurance profession because of all the risks.

Act on your fears and get your insurance checked out. I know just the guy to do it. He does not sell insurance and never accepts fees or commissions from insurance agents or companies.

I’ll either make you feel better about your insurance, or we will fix the gaps.