This post is a bit far afield from what we usually discuss, but the issue was raised in response to an earlier blog post (See Compliance Officers on the Hook). A word to the wise about CCO liability and insurance coverage. Many CCOs think they are automatically covered by their firm’s D&O insurance policy. But that is typically not the case as the CCO is not considered an executive officer (the standard for most policies). You need to specifically add a rider to the policy to ensure that as chief compliance officer you are covered. Best to talk to an insurance professional about this as our level of knowledge is pretty much limited to knowing that there is an issue.