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Bahr Consultants

“AUDIT” IS NOT A FOUR-LETTER WORD

“AUDIT” IS NOT A FOUR-LETTER WORD Insurance companies do it; FDIC regulators do it; even the Georgia Department of Banking and Finance “highly recommends” doing it. Why do it? Why have an Insurance AUDIT? Can it ever save you money? A risk management and insurance audit, done correctly, can be both helpful AND might just […]

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Banks and The Cannabis Trade

At the time of this writing, there are 11 states that have legalized recreational marijuana use, and 22 states have legalized the sale and distribution of marijuana for medical use. However, the Federal Government considers the sale, cultivation and distribution of marijuana a class A felony. The very nature of Risk Management is to reduce […]

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Bank Insurance and the Corona Virus

Just in case you hadn’t had enough articles on how the Corona Virus (Covid19) will effect your bank and your life, let me present you with one more. The insurance industry is just as confused as the rest of us as to how to respond to this “crisis”.  Insurance periodicals and websites have been dealing […]

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Risk Management of Cyber/Internet Exposure

A Changing Landscape We have all read about the numerous breaches of mega companies like, Orbitz, Panera Bread, Delta, Best Buy, and many others; and it’s not just the “Big Boys” getting hit. Increasing pressure is being applied by banking regulators to make sure community banks and other financial institutions are doing all they can […]

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5 Ways to Lower Your Bond and D&O Premium

Ways to Lower your Bond and D&O Premium OR How to get the most “BANG” for your buck! The largest part of any bank’s insurance costs are the premiums of its Financial institution Bond and its Directors and Officers liability policies. While determining the best coverage should always be management’s primary goal, making sure the […]

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Prioritizing Risk

Prioritizing Risk For over 10 years, I taught an insurance course on “Identifying Risk.” While this is still the most vital part of any risk management process, prioritizing the identified risk is a close second. By prioritizing, I mean, “what is the best allocation of our time and resources to handle the risk of a […]

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Banks and Guns Don’t Mix – or Do They?

To go armed or not to go armed? That is the question. Unfortunately, there’s no easy answer. The first answer that comes to most Insurance Risk Managers is, “No Guns. Guns can potentially hurt people and/or destroy property.” However, what is usually said off the record is, “Guns should be banned from bank lobbies and […]

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Exclusions Aren’t the Only Way an Insurance Company Can Deny a Bond or D&O Claim

The Financial Institution Bond, the Directors and Officers Liability policy, and now the Cyber Liability policy, are essential coverages for ANY bank. These policies cover a great number of exposures that, if not covered, could financially ruin a bank. However, there are actions that a bank must take (or not take), that may allow the […]

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Time for a Captive Insurance Company?

I have always been lead to believe that establishing a Captive Insurance Company was only for large companies with a lot of capital and a hard to insure loss exposure. While this advantage for large companies has not changed, financial institutions of moderate size should now consider this risk financing tool. Let’s look at some […]

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Ransomware

Ransomware is one of the biggest cyber threats affecting banking today. How can you stay protected? Does your insurance plan cover Ransomware? Do you have an appropriate coverage limit? Will your insurance company help with the removal of the Ransomware? What is It? Ransomware is a form of a computer virus. However, this isn’t one […]

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