How Much Insurance Should Your Bank Buy

The eleventh edition of my recommended minimum limits of insurance for banks is available now for download. Several changes in approach this time. New limits for bankers to consider as well as a different approach to publicly traded banks. Go to www.HowMuchBankInsurance.com for your copy. Directors and Officers Insurance Lender Liability … [Read more...]

Bank Owned Insurance Agency

It is often best-practice for a bank that owns an insurance agency to buy an insurance agent's errors and omissions insurance policy that is separate from the bank's professional liability insurance. Sure, your bank management liability can almost always be expanded to include coverage. However, I like to separate out the coverage to segregate … [Read more...]

Charitable Foundations and Your Insurance Policies

Your organization may have set up a charitable foundation. That entity should be listed on all your insurance policies. By design, a foundation is not a subsidiary by the standard definition used by most insurance policies. While you may have common board members, your board is not the board of the foundation. Your bank does not "control" the … [Read more...]

Bankers Professional Liability Notary Exclusion

There are exclusions in all insurance policies. Some are there to prevent/dissuade stupidity. The “Notary Exclusion” is one such. Almost all bankers professional liability policies have an exclusion for notary services: "based upon, arising from, or in consequence of the notarization of any signature without the physical appearance at the … [Read more...]

Banks Need To Review Websites for ADA Compliance

This will be my third post on this topic... Here is the last one from December of 2016 which references my post of January 2016. Well, boys and girls, it is still happening.  A law firm hires a disability advocate to visit your website. They find it to be non-compliant with the Americans with Disabilities Act.  You get a letter threatening … [Read more...]

Corporate Indemnification Protects Officers and Directors

Your directors and officers are absolutely, positively, undeniably, indubitably, unequivocally, irrefutably dependent upon the quality and breadth of the provision of your bylaws that deals with indemnification. When was the last time your corporate attorney reviewed that provision? If more than three years talk to your attorney soon. … [Read more...]

Cyber Insurance For Bankers Webinar Video

Here is the replay of my recent webinar on cyber insurance for bankers. … [Read more...]

What You Need To Know About Your Bank’s D&O Policy

Here is the link to the video of yesterday's session. I covered the banker's D&O policy, indemnification, the bank insurance marketplace, and took a few questions. My next Webinar is on 9/21, Bank Insurance 101.  To join that session register here. … [Read more...]

Watch My Cyber Insurance For Bankers Webinar

You can view the recording of my May 12th webinar on Bank Cyber Insurance by going HERE. I cover cyber liability, funds transfer fraud, debit card losses, computer equipment coverage, and other related cyber insurance issues. … [Read more...]

Supervisory Insights From FDIC for Banks

The FDIC issued a special edition of "Supervisory Insights" recently providing guidance on community banks guidance on governance. Preventing D&O claims means your board and leadership are attuned to regulation and regulator's stance on running your bank. This is required reading for anyone looking to meet their fiduciary obligations as … [Read more...]