civil money penalties insurance

civil money penalties insurance

Personal CMP insurance policies provide new options for officers and directors who previously had no coverage for civil money penalties and allow them to feel a bit more confident that their assets will not be at risk due to their service on a bank board.

In the past, these institutions would commonly offer an insurance policy to directors and officers to protect against liability for such penalties; however, in recent years the FDIC has made it clear that financial institutions may not provide civil money penalties insurance for their directors and officers.

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