Module 9: Public / Financial D&O Liability Insurance

This module addresses issues related to D&O exposures and insurance for public entities and financial institutions in more depth than the D&O Introduction (C-08-DO) module. Important elements of the underwriting process, including financial statement analysis, critical company and industry factors, composition and operation of the Board of Directors, are reviewed. The module identifies D&O policy and coverage issues, such as Side A, B, and C coverages, other insuring agreements, key exclusions, clauses and conditions, and the importance of definitions. The use and features of Excess D&O (delineating the differences between primary and excess D&O), Side A Difference-In-Conditions (DIC) Coverage, and Independent Directors Liability policies are also described. Unique types of claims made against Financial Institution Directors and Officers and statutes that specifically govern Financial Institutions are reviewed. The module concludes with review of current and potential issues and trends involving D&O Liability and the underwriting cycle.

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