News and Articles—Financial Institutions
U.S. Risk’s Financial Institutions Division Receives National Recognition as Best Property Insurance Company
December 22, 2022
For the third consecutive year, U.S. Risk’s Financial Institutions Division, J.B. Lloyd & Associates (JBL), was recently recognized through… more ▶
Who Needs Force-Placed Insurance?
December 1, 2022
Financial institutions that fund home loans often maintain strict standards for borrowers. In addition to the initial criteria applicants must meet, a mortgage contract typically requires home or business insurance to cover the property. If a borrower fails to… more ▶
How Inflation Affects Banking and Insurance
July 14, 2022
It's estimated that inflation in the U.S. can cost the average household as much as $341 per month. This expense can be attributed to the rising cost of food, household supplies, and essential services. The cost is even higher… more ▶
Overcoming Banking Industry Challenges
April 30, 2022
There are new challenges in the banking industry that emerge every year. Changes in the economy, new customer needs, and evolving regulations are just a few of the factors that often impact financial institutions’ operations. Still, banks are a necessity… more ▶
How is Force-Placed Insurance Removed?
September 15, 2020
When a bank or other financial institution agrees to extend a loan for financing an automotive or property purchase, that institution faces significant risks. In most cases, buyers are required to obtain insurance to protect the loan. When that insurance is not obtained… more ▶
What is Force-Placed Insurance and What Does it Cover?
September 8, 2020
When a real estate property is financed for purchase, the purchaser is not the only entity with exposure to risk. The lender also faces substantial risks in these transactions. To help manage these risks, a specialized form of insurance known as force-placed insurance… more ▶
Fiduciary Liability: What it is and Why Your Clients Need it
August 11, 2020
Financial institutions that offer employee benefit plans to their workers face significant risks. As the regulatory landscape of banking corporate governance shifts, risk exposures also shift. Litigation related to the management liability of employee benefits programs… more ▶
Common Commercial Bank Risks
July 14, 2020
In every business and industry, there are risk exposures that must be addressed. The banking sector is no exception. Banks and other financial institutions face a wide range of risks, including several unique exposures to this important component of the world economy… more ▶
The Risk of Employee Theft and Crime in Financial Institutions
February 11, 2020
Financial institutions around the world face significant risks in their operations – both externally and from within. Employee theft and crime, including fraudulent activities, are believed to be the largest risks banks and other financial services firms face… more ▶
Breaking Down Financial Institution Bonds
February 4, 2020
Financial institutions face many risks in their business operations, including risks that come from both external and internal sources. One of the primary emerging internal risks plaguing the financial services industry is that of employee dishonesty, which can… more ▶
Understanding the Fiduciary Duties and Liabilities of Association Board Members
July 16, 2019
The daily operation – the business – of most planned housing developments is managed by a community association or homeowners association (HOA). Most such associations have a board of directors who oversee the management and maintenance of… more ▶
What it Means to Insure Financial Institutions
September 4, 2018
Financial institutions face unique risks in their daily operations – risks that many other business types simply do not experience. Because of intense regulatory scrutiny, financial institutions must have in place rigorous risk management protocols, including… more ▶
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2023 Staffing Industry Forecast
February 2, 2023 | Recent years prove that the staffing industry has mastered the art of adaptability. A pandemic, economic crisis, and national worker shortage were no match for… more ▶
The Biggest Risks Oil Companies Face
January 27, 2023 | Oil is one of the most lucrative industries in the country—and in the world—but these profits come with plenty of risks. Indeed, oil companies are commonly faced… more ▶
Ensuring Safety for Stunt Performers
January 16, 2023 | When you’re watching a movie, the stunts that unfold onscreen look effortless. In reality, these shots require extensive planning, supervision, and safety protocols… more ▶