Can You Answer the FDIC’s Four Questions About Your Institution’s D&O Insurance? Insurance Policyholder Advocate
On October 10, 2013, the FDIC issued an “Advisory Statement” on D&O insurance to FDIC-supervised banks with “suggested routing” to the Board of Directors and Senior Executive Officers (copy here). The FDIC urges each Board member and executive officer to “fully understand” the answers to these four questions, which are equally applicable to other institutions and have relevance beyond FDIC-supervised banks.
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