New bill could prevent insurers from providing protection against clawbacks Financial firms may no longer be able to purchase insurance policies that provide them with protections against civil penalties or compensation clawbacks if a new legislation introduced by Representative Barney Frank is successful. Clawbacks have become a somewhat popular form of censure for executives looking to reclaim compensation from one another. This practice can sometimes be damaging to an individual’s finances, a possibility that has spawned its own form of insurance coverage. Representative Barney Frank believes that clawbacks are an…
Read MoreLegislation seeks to put an end to clawback insurance
