FDIC Report Confirms Importance of D&O Insurance for Directors and OfficersAdded by Hawley Troxell in Banking Law, News on January 7, 2014
Directors and officers of banking institutions understand the importance of directors and officers (D&O) insurance. Recent numbers from the Federal Deposit Insurance Corporation confirm the importance of the insurance.
According to the latest FDIC report, from January 1, 2009, through December 10, 2013, the FDIC has authorized suits against 628 individuals for negligence as directors or officers of a failed institution. These numbers and the lengthy statute of limitations for FDIC actions confirm that a carefully structured insurance program is essential to protect the personal assets of directors and officers.
For more information, please contact our Banking Group or call 208.344.6000.
More Banking Law Blog Posts
- 10/29/18—Amendments to Municipal Securities Disclosure; What Lenders Should Know
- 03/23/17—Department of Labor’s Fiduciary Rule is on Unstable Ground
- 08/18/16—New ALTA Land Survey Requirements Affecting Your Next Loan Transaction
- 06/28/16—2016 Legislative Updates
- 06/02/16—Who Paid You? Chapter 7 Trustees are Asking and Creditors Should Know