Foundation Requires Separate Insured Listing

My title refers to a charitable foundation set up by your bank to manage charitable gifts.

If you have a separate entity (perhaps a non-profit) you will need to list the entity separately on your insurance policies, including your D&O.

Even if your policy includes language that automatically picks up coverage for subsidiaries, you should list the foundation separately. Foundations typically have separately constituted boards of directors which may be the same as your bank (or with common individuals serving).

The foundation may be controlled by the same people who control the bank. It is not controlled by the bank.

When in doubt, discuss the issue with your insurance advisor.