What is Covered by D&O Insurance – What is Not?
Bank management should have concerns over what protection is provided by their Directors and Officers Liability insurance policies.
Board members and executives are typically dependent on their insurance agent or underwriter to provide the details of the insurance coverage. However, some insurance agents may not be aware of all of the terms, conditions and coverage available for their client bank.
This session not only addresses the coverage provided by these unique insurance policies, but it also covers the enhancements that some insurers are willing to provide – if the institution’s insurance agent knows to ask for them. Compounding this hurdle, underwriters may not volunteer the full extent of enhancements that their company could provide.
- Basic coverage description provided by the Directors and Officers Liability policies.
- Discussion of the effects on coverage from the policy definitions and exclusions.
- Details of the Terms and Conditions of these polices and what impact they have on the coverage provided.
- The importance of the protection of the officers and directors personal assets.
- Non-profit board membership.
- Extended coverage for Spouses, Domestic Partners, Estates and Legal Representatives.
- The potential disastrous effects of a “Failure to Maintain Insurance Exclusion”.
- The impact of a “Hammer Clause”.
- What are the implications of the “Allocation” condition in the typical policy.
- The value of an excess “Broad Form Side A Directors and Officers Liability Policy”.
Board Members, President, Chief Executive Officer, Chief Financial Officer, Employed Legal Counsel, Risk Management Officer, and Head of the Risk Management Committee
Mike Hogan has taught seminars for insurance agents and bank management on this subject for 25 years through various bank and insurance associations. He outlines the details of the coverage and enhancements available as well as the limits of liability that banks of similar size purchase. Attendees will find the webinar useful in understanding the nuances of coverage they can request.
Mike provides detailed handouts prior to the webinar so the attendees can take notes for future reference after the webinar presentation. Questions are welcomed and will be promptly answered.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 CE Credits
- Live Webinar which includes 5 Day On-Demand - $265
- Six Month On-Demand – $295
- CD-ROM (Includes Six Month On-Demand) – $325
- Live plus Six Month On-Demand – $365
- Premier (Includes all options) – $395
- Additional Locations – $75
Online: Click here.
Phone: Call Total Training Solutions at (800) 831-0678
Register online up to day of event. Earlier registration allows time to check your computer for an optimal experience.