“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...

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...

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...

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...

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...

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?...