What it does
MP 00 05 combines executive liability for the directors and officers of a financial institution with entity securities liability for the institution, mirroring MP 00 02 for commercial organizations.
Program context
The ISO Management Protection (MP) program is a modular management liability policy: Common Policy Conditions (MP 00 03) shared by separate coverage forms for executive liability (D&O), executive and entity securities liability, financial institutions executive liability, not-for-profit management liability, fiduciary liability and Side A only. Forms lists show the Management Protection forms filed for use in Colorado, Iowa, Illinois, Indiana, Kansas, Minnesota, Missouri, North Dakota, Nebraska, Ohio, South Dakota, Wisconsin and Wyoming. The 10 06 and 05 09 editions are the current ones in forms lists; ISO filed a multistate Management Protection forms revision in 2008.
Who needs it
Bank and credit union holding companies and other financial institutions with shareholders or capital-raising activity.
Quoting and selling notes
- Ask about holding company structure, shareholder base and any planned offerings or mergers.
- Use MP 00 04 where entity securities coverage is not needed.
- Pair with Side A coverage (MP 00 09) for higher personal-asset protection.
