Wrap Around D&O Liability Overview
The First Monetary "WRAP AROUND" directors', trustees' and officers policy is a "low-cost" way to establish membership in First Monetary.
Qualfying institutions receive all membership costs at a low annual premium of $3,500.
The policy protects you in three important ways:
Covered areas include:
- Provides additional limit of protection over your primary policy
- Fill gaps created by exclusions in other D&O contracts
- Drops down and become primary insurance if the event a primary policy is exhausted after payment of a claim
- Primary CRA Mortgage & Lending Discrimination Coverage
- Primary IRA Coverage
- Protection for All Employees - not just Officers
- Spousal Liability Coverage
- Protection for Outside Non-Profit Directorships
- Coverage for Actions brought by Regulators
- Conversion from Mutual to Stock coverage
- Other Unknown Areas