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Abstract: 

As litigation risks and regulatory scrutiny intensify for banks and other financial institutions, it is more important than ever for those financial-sector companies and their executives to assess the protection offered by their directors and officers liability insurance policies. Seemingly small variations in policy language, especially exclusions, can lead to significant gaps in coverage, potentially leaving executives exposed and personally liable. This article examines 10 common D&O policy exclusions that could materially affect banks’ and executives’ financial exposure and highlights the importance of understanding the finer details of placing and negotiating appropriate D&O insurance programs.

Keywords: Director & Officer Liability; D&O Insurance Policy Exclusions

Affiliations:  1: Hunton Andrews Kurth LLP; 2: Hunton Andrews Kurth LLP.