Alert March 18, 2014

BNA’s Banking Report Publishes Goodwin Attorneys’ Advice on Bank D&O Insurance

Goodwin Procter attorneys Matt Dyckman, Samantha Kirby, Carl Metzger, and Shoaib Ghias recently published a feature article in Bloomberg BNA's Banking Report titled “Must-Know D&O: Lessons from FDIC Guidance and Case Law on D&O Insurance.”  The FDIC is concerned about an increase in D&O insurance policies that exclude, among other things, recoveries for damages arising from federal or state banking regulatory action.  As such exclusions may expose directors to personal liability, the Goodwin attorneys outline director best practices for the evaluation of an institution’s D&O coverage and charter and bylaw indemnification provisions.