In part 2 of the Calling All Bank Directors podcast, Lynda A. Bennett, partner and Chair, Insurance Recovery Group, discusses how banks and their directors can successfully access their coverage, the importance of understanding the scope of the bank’s indemnification of directors and officers before the policy terms are finalized, how the definition of “claim” in the policy may affect coverage for regulatory investigations and other matters, how to properly and timely file and manage a claim, and how to negotiate the language in the policy without necessarily increasing the cost of the coverage.
