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.
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