Financial Institutions Directors & Officers (D&O)
Financial Institutions Directors & Officers (D&O) liability insurance policies offer liability cover for financial institutions managers to protect them against exposures which may arise from the decisions and actions taken within the scope of their regular duties.
- Small and medium-sized financial institutions are exposed to the same risks as large financial institutions
- Financial institutions managers can be sued, no matter how prudently they may act
- Financial institutions managers can be held personally liable.
Who isc overed?
- All past, present and future directors and officers of the parent financial institution and its
- Non-executive directors
- Directors and officers serving at the request of the company on the board of outside entities
- Employees in a managerial or supervisory capacity
What is covered?*
- Allegation of a wrongful act of an insured when acting within his managerial duties, costs and expenses of an insured (e.g. defense costs against civil claims, criminal proceedings and regulatory investigations
- Stockholders, investors, creditors, banks
- Supervisory board
- The company itself, employees
- Regulators, state authorities, professional unions
- Customers, suppliers, competitors
*Subject to terms and conditions of the respective insurance policy
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