FDIC Stomps On Civil Money Penalties Insurance

This note was just sent to my email list of bankers... I have been expecting action by the FDIC on the issue of Civil Money Penalties (CMP) for some time now. This one is not subtle. Actually, I expected the FDIC to start hitting banks buying CMP with civil money penalties. (Wink) For about a year now I have been urging my clients not buy … [Read more...]

Bank Directors and Officers Insurance Handbook Available on Amazon

My latest update to my Bank D&O Insurance Guide is out... The Definitive, Pragmatic, Unbiased Insurance Guide For Bank Board of Directors on The Directors’ and Officers’ Insurance Policy. Written for bank officers and directors who need to know more about how their directors' and officers' insurance works. A practical guide to what bankers … [Read more...]

FDIC Director Suits: Lessons Learned

I recently finished David Baris and Jared Kelly's book, FDIC Director Suits: Lessons Learned. Here is the review I wrote in Amazon: "Baris and Kelly put together a quite readable overview of what the federal regulators consider as they go after bank directors. Each case is spelled out in just enough detail to highlight the mistakes the banks … [Read more...]

Free Amazon Book – NonProfit Directors’ and Officers’ Insurance

Free Book Now On Amazon I am excited to announce that my newest book is now available on Amazon Kindle - for free.   How To Buy Directors' and Officers' Insurance For Your Nonprofit  While you may not be in the nonprofit world, you probably volunteer there - or you know someone who does.   Frankly, only a small part of my consulting … [Read more...]

Civil Money Penalties Update

I've had several (OK, many, many) conversations over the past few weeks on the issue of bank directors and officers insurance civil money penalties coverage.  (See my other posts on this blog on this topic.) I have worked on dozens of D&O renewals in the past few months.  Not once has the insurer or agent brought the subject of CMP up - … [Read more...]

NonProfit Directors and Officers

A reporter from the National Underwriter called me the other day to talk about directors and officers (D&O) insurance for nonprofits. Here is the piece.I enjoy talking with writers.  I tend to look at the world a bit differently from other insurance people.  I'm glad to give a different perspective. … [Read more...]

Civil Money Penalties Insurance & Banks

Lots of heat (and little light) lately in the discussion of civil money penalties insurance within bank directors' and officers' insurance.     I talked with a client today on the issue and promised a letter he could send to his attorney.  (Names changed...)   ~~~~~~~~~~~ Bill and Steve,   We discussed the issue of civil money penalties … [Read more...]

NonProfits-Where and Why Buy D&O

Letter from someone who found me on the internet... ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ July 25, 2011 Dear Scott, I just read your article here: http://www2.guidestar.org/rxa/news/articles/2004/nonprofit-directors-and-officers-insurance-the-good-the-bad-and-the-ugly.aspx?articleId=839 and wonder if you might answer a few questions for me. I am a … [Read more...]

Insurance Matters: Used Up and Left Out

My latest column for CU Management:Your credit union undoubtedly buys directors’ and officers’ insurance to cover your board members. There is a fly in the ointment, though. What you have for insurance may not be enough. If it is enough, it may not be the right kind. If it is the right kind, it might get all used up.First, we have to talk about … [Read more...]

What Your Bank Board Wants To Know About Directors’ and Officers’ Insurance

My newest white paper for bankers... A clear explanation of directors' and officers' insurance designed specifically for community bank board members. What's covered? What's side A? Can I depend on my umbrella policy for protection? Can we buy coverage for civil money penalties? Explain claims-made.I have included answers to the questions I get … [Read more...]