No D&O Coverage For Indicted Bank Director: Court

Law360, New York (July 7, 2009, 12:00 AM EDT) -- Considering for the third time whether the former director of Sinclair National Bank is entitled to directors and officers insurance, a federal court granted summary judgment to Kansas Bankers Surety Co. on the ground that Susan Sinclair Wintermute’s criminal indictment is not a loss covered by the policy.

Judge Robert E. Larsen of the U.S. District Court for the Western District of Missouri ruled Thursday that Wintermute was not entitled to coverage under the D&O policy because the attorneys’ fees she racked up while defending criminal...
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