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Executive Liability Insurance Solutions for Financial Institutions
In a sophisticated regulatory landscape exacerbated by market fluctuations and an expanding, more diverse (and oftentimes more litigious) customer base, financial institutions need to maintain proper safeguards to protect their business. Financial institutions are constantly under immense scrutiny from:
- Regulatory agencies and enforcement bodies
- Aggressive plaintiff’s bar
- Shareholders
- Employees
- Creditors
- Other stakeholders and interested parties
Specialized Risk Solutions for Financial Institutions
Brown & Brown has assembled a team of specialists who will help you strategically understand your firm’s total cost of risk — factoring in your firm’s own risk appetite, tailored peer-group benchmarking, and more. As a specialty broker who understands the financial institutions sector and its unfolding liability landscape, we can make recommendations and help lead productive conversations with your board and legal counsel on appropriate types and quantities of insurance. Customers value our decades of experience placing Directors & Officers programs and claims assistance, which help them achieve their business goals.
Understanding Directors and Officers (D&O) Liability Insurance
Directors and Officers (D&O) liability insurance protects the personal assets of directors and officers from potentially crippling financial loss in the event of a legal action brought against them in their respective capacities. The D&O policy also provides coverage for the organization when the entity is named as a defendant or target or when the organization is required to indemnify a director or officer for a covered wrongful act.
Why Financial Institutions Need D&O Insurance
Whether you are a financial advisor, investment fund, commercial banking institution, investment bank, insurance company or non-depository institution (leasing company, title agency, collection agency, REIT, mortgage broker, or finance company), structuring a comprehensive D&O insurance program will effectively:
- Help protect your company’s balance sheet
- Help protect individual directors' and officers’ personal assets
- Attract and retain talented leadership
- Allow you to focus on your business
Key Exclusions to Be Aware of in D&O Insurance Policies
- Adjudicated fraud or illegal personal profiting
- Professional liability
- ERISA matters (with exceptions)
- Claims by insureds against other insureds (with exceptions)
- Pollution and environmental matters
- Contract exclusion
- Bodily injury / property damage (other than personal injury for employment matters)
- Claims by major shareholders
- Pending or prior litigation
Explore Other Financial Services Insurance Solutions
Connect with a Brown & Brown
Brown & Brown works with financial institutions to strengthen governance, protect leadership, and proactively manage executive liability. Our experienced advisors help ensure your D&O and management liability programs align with your institution’s long-term goals and regulatory expectations, supporting a foundation of confidence, and resilience.