Civil penalties against bankers are on the rise and can be costly if you aren’t prepared. Purchasing a civil monetary penalty insurance policy helps you in the event of fines or penalties by covering costs of the penalty. Don’t be left wishing you were covered when its too late. A comprehensive CMPI policy is a must for any high-ranking bank director or officer.
Protect Yourself and Avoid Disaster
A civil monetary penalty insurance policy is not designed to protect the interests of a financial institution. They offer personal protection to bank directors and officers for personal liability findings. The cost of these settlements is trending up and can do serious damage to your personal finances if you are not properly protected with an insurance policy.
If you invest in a civil monetary penalty insurance policy today you can rest easy knowing that you are covered. In the event of a ruling against you, the average judgment falls within even the lowest coverage limits of a policy, meaning there would be no additional costs out of pocket for you. You cant put a price on peace of mind, and with CMPI you can continue to work with the knowledge that you and your family are not at risk in the event of a civil monetary penalty ruling.