In this Presentation:

- FDIC D&O Insurance and “Claim” Issues

..Definition of “Claim” in a D&O Policy

..So, what constitutes a “claim”

..“Claim” definition Denials and Cases

..Timing of a “claim”

..Market Response

..FDIC Letter on D&O Issues

..Regulatory Exclusion

..Insured v Insured

..CMPs

- Questions & Answers

- Appendix A

- Appendix B

- Excerpt from Definition of “Claim” in a D&O Policy:

- A D&O policy is triggered when there is a “claim” made during the policy period for a “wrongful act”

- A typical definition of “claim” can be found in most bank D&O policies and one issued by Travelers reads as follows:

..(a) a written demand against any Insured for monetary damages or non-monetary relief;

..(b) a civil proceeding against any Insured commenced by the service of a complaint or similar proceeding;

..(c) a criminal proceeding against any Insured commenced by a return of an indictment or information;

..(d) an arbitration proceeding against any Insured, or a formal administrative or regulatory proceeding against any Insured Person . . . which shall be deemed commenced by such Insured’s receipt of an arbitration petition, a notice of filed charges, a formal investigative order or a similar legal document. . . .