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...]

CEOs Signing Insurance Applications

A bank client is in the final stages of changing insurance companies. The insurer wants a signed application. The CEO looks over the app. He is busy and trusts his CFO. He signs the document and moves on. Six months later a claim comes up. The insurer turns the claim down because there is a pertinent question on the application that was answered … [Read more...]

Bank Questions Issues Of Religion In The Workplace

A client recently asked me for some ideas on the issue of religion in the workplace and preventing possible conflict/lawsuits. I found this EEOC publication that struck me as well written and filled with great guidance. … [Read more...]

Your Bank Is Buying Another Bank…

I got a call today from the CFO of a client bank.  They are 80% of the way to buying a small bank.  Relatively speaking, the bank they are buying is very, very small. It's so small that, in all likelihood, the acquisition will have no impact on my client's fraud-bond or management liability insurance policies.  I told the CFO to give their … [Read more...]

Banks – Professional Liability Notary Services Exclusion

Bankers, a reminder about most insurance company's professional liability coverage... Most insurers exclude lawsuits that come out of notarized signature when the person signing the document did not appear personally before the notary. You'd think it was a given that notaries would have to have the guy standing in front of them in order to … [Read more...]

Wage/Hour Claims

Employees suing you for back overtime pay is not covered by most Business insurance programs. So-called wage hour or fair labor claims are excluded by both general liability insurance and in most cases employment practices liability insurance. Some employment practices policies cover defense costs in such claims. This is certainly not the … [Read more...]