The financial crisis that occurred several years ago led to the failure of a number of financial institutions. The failure of those financial institutions inevitably led to litigation over who should bear the consequences of those failures. When the Federal Deposit Insurance Corporation (“FDIC”) took over a number of banks, it filed lawsuits against the directors and officers of the failed institutions, alleging negligence and improper banking practices. Those lawsuits led to further litigation over whether the D&O insurance for the banks provided coverage for those claims. Directors and officers liability Insurance (“D&O”) is liability insurance payable to the directors and officers of a… Read more