National Preparedness Month
September is recognized as National Preparedness Month, serving as a reminder to take action now and throughout the year for emergencies that can affect us. For financial institutions, this is a great time to begin reviewing a business continuity plan, emergency response plan, or take a risk assessment to understand exposures to your company. Depending on specific locations, there may be several different preparations needed in a plan, and often using site coordinators helps to streamline this process.
Financial institutions that already have plans in place can still utilize the resources to refine plans or test and evaluate plans. This is good practice and provides a double-check against what may appear to be a strong plan. It’s also good practice to implement the business continuity plan sections on quarterly rotations, such as having employees work from home to test system functionality remotely.
Don’t Forget Building Maintenance
Preparing can also be as easy as checking for building maintenance. This includes checking roofs, sidewalks or common areas, generators, any vacant property, HVAC equipment, and gutters or drains. These are all particularly vulnerable in locations where winter weather can cause damage, and being prepared in advance reduces cost if a loss occurs.
Insurance Is a Critical Part of the Plan
Insurance is an important element of any emergency plan, but should be viewed as part of systematic risk management program. The resources provided here support our custom products and expert team members, so that if a loss happens, the response can be coordinated and efficient, instead of a burden.
Make Sure Your Financial Institution Clients Have the Right Coverage
Make sure your customers have the right insurance coverage from the financial institution experts, Berkley FinSecure. Contact any one of us below for help in making sure your FI customers are protected!
VP Sales and Distribution
Jon Martin 410-372-6325
Chuck Cook 913-553-8559
Jeanne Shrum 207-415-4587
Scott Harris 512-800-5393
Dave Cassel 443-987-8619
Pete Verretto 973-775-5233
Experts focused on your protection.
Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.
For additional information concerning W.R. Berkley Corporation’s insurance company subsidiaries, please visit: http://wrbc.info/