Some lenders question why they need insurance for their mortgaged property if they’re tracking the borrower’s required insurance. Now, economic risks and exposures have become more and more complicated—so has protecting your financial institution from losses associated with your mortgage portfolio. With all the different types of losses that could impair your mortgages, and the myriad of exposures from originating and servicing loans, you may need a broad, flexible product that lets you customize your insurance.

It’s that time of year again – the Federal Home Loan Bank (FHLB) and Government Sponsored Entities (GSEs) are reviewing their lending partners to make sure they meet their requirements, including adequate insurance.

Going into a new year, inflation continues to be a key topic for individuals, but are your business customers keeping pace? Insurance to Value is not a new concept. Each year leading up to renewal, it’s one of the many items on an underwriter’s checklist - to update values for a business. Often, insurance customers suggest that values are fine as is. However, in this current environment, that approach will likely result in under-insured property values and it’s more important than ever have those values updated at renewal.

Winter is here and it’s time to bundle up your banks, credit unions, institutions and other financial services properties. To help prevent customers and employees from being injured on your property, certain precautions and efforts can be taken to maintain property upkeep from snow, ice, and freezing temperatures. If an accident occurs at one of your locations, you can be held accountable and may be required to make monetary reparations to the victim.

Incidents continue to be reported to banks and their insurers involving data compromises that occur at the bank customer's location. This article will provide some of the most common and evolving methods of data compromise.

While card skimming, wire fraud, or hook and chain losses have dominated conversations about risk for banks, a new threat is on the rise: "jugging." As customers and businesses start to return to normal, foot traffic inside and around the bank is increasing. Unfortunately, some of the additional visitors are looking at methods of robbing customers after they leave the bank lobby. This article will define "jugging," look at clues for identifying a potential jugger, and provide some procedures to implement to protect your customers from falling victim to jugging.

It is well known that ATMs are subject to many different types of attacks, from skimming or tampering, to robbery. In the last few months, the U.S. has seen a spike in a new type of assault on ATMs, labeled “Hook and Chain” attacks. In this style of attack, criminals are attaching chains or cables to the ATM, hooking those chains to a vehicle and attempting to physically pull off the door of the safe of the ATM. Drive-up island ATMs have been particularly vulnerable in such incidents, as well as standalone ATMs at remote locations such as a gas station or a business after hours. To mitigate risk, your bank should refer to the following tips to protect ATMs.

The home equity line of credit (HELOC) has become an increasing target for fraud. Given their infrequent transaction activity, as well as the higher dollar amount available for withdrawal, HELOC accounts have had a significant increase in fraudulent activity over the past few months. It’s crucial for banks to implement the same internal controls for HELOC accounts as they have for other accounts.

Economic risks and exposures associated with mortgage portfolios have become more complex; so has protecting banks from losses. As a response to this, OneBeacon Financial Services has created a new policy to account for different types of losses that could impair mortgages, as well as certain exposures from originating and servicing loans.

These days more people are working remotely than ever before and many tasks previously done in person are happening online - including banking. Unfortunately, fraudsters are aggressively taking advantage of potential vulnerabilities that arise from this increased online activity.