Civil Money Penalties Personal Protection Coverage
Historically, Civil Money Penalties (CMP) coverage has been scrutinized by bank regulators because coverage was provided as an extension to the D&O Policy. In order to address this issue, AmTrust is introducing a new product solution in the form of a separate and distinct CMP policy. The CMP policy is written in the name of and is paid for by the individual D&O for their own benefit.
Description of Coverage
AmTrust's CMP Personal Protection Coverage insures the "Institution-affiliated Party" in the event Civil Money Penalties are assessed against that individual by a Regulatory Agency for a Wrongful Act. This is an individual policy and the financial institution is not an insured under the contract.
This is a primary policy written on an annual term and is subject to Underwriting Guidelines. Coverage is written on an Excess & Surplus (E&S) basis. If you do not have an E&S broker, click here for a list of AmTrust preferred brokers who can work with your bank or agent to secure coverage.
Applying for coverage is easy, just complete this short application and return to AmTrust.
Our products are endorsed by The American Association of Bank Directors. For more information on this organization, click here.