Mealey's Banking & Finance - Policy Doesn't Cover FDIC's Claims Against Bank Executives, Judge Finds

Mealey's Banking & Finance - Policy Doesn't Cover FDIC's Claims Against Bank Executives, Judge Finds

KANSAS CITY, Kan. - BancInsure Inc. does not have to cover a suit the Federal Deposit Insurance Corp. filed against former directors of Columbian Bank and Trust Co. because coverage of the FDIC's underlying claims is excluded from the bank's policy, a federal judge in Kansas ruled Feb. 27 (BancInsure Inc. v. Carl L. McCaffree, et al., No. 12-2110, D. Kan.; 2014 U.S. Dist. LEXIS 24941).

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