New & Emerging Risks
We're happy to present P&C Minute. Every month, the Corporate Property & Casualty Consultant team will briefly tell you about new and emerging risks, how to use your policy, and much more.
Credit Unions Experiencing Asset Growth
Many credit unions are experiencing a rapid increase in assets due to the pandemic. Have you wondered how that impacts your Bond Limit and when you need to increase it?
In Case You Missed It
Here are a few resources introduced or updated within the last 30 days to provide you with actionable insights and proven risk mitigation guidance to help you stay on top of emerging risks.
- Lending Risk Outlook eBook*
- Two-Factor Authentication Risk Overview*
- Telephone Consumer Protection Act Risk Overview* (updated w/ Supreme Court decision)
- Partner Perspective: What You Need to Know About 2020 EEOC Charges*
- Common Office Foot Traffic Issues
- Employee Safety & Wellness - Credit Union Loss Scenarios
- Active Shooter Incident resources web page
- RISK Alerts:
Our Disaster Response Team Is Ready To Help!
While the world may be unpredictable, you can take comfort in knowing our Disaster Response Team is always ready to help if your Credit Union is ever threatened with a disaster event.
Have a question about your policy? Bought a new car and need to add coverage and get an ID card? Or maybe, you need a certificate of insurance? Our Customer Response Center is a great resource to help with your day-to-day transactional needs. It is quick, easy to use, plus they are open Monday through Friday from 7AM to 6PM CT or email 24/7!
“Lights! Cameras!! Obstacles!!!”
If the year 2020 was a movie, it should be awarded the best screenplay or the scariest one ever made. Here are some actions that a credit union can take to ensure they are rethinking protecting their people, assets, and reputation. Learn more!
Do you know some of the leading causes of WC injuries at credit unions?
Slips and falls, auto accidents and repetitive motion injuries are some of the leading injuries at credit unions. Our experience shows that many of these incidents can be prevented. In fact, our team of specialists monitor nationwide claim trends and create safety programs to minimize the loss and control the cost of protection for your credit union. Learn more!
Think Before You Click
Ransomware is one of the largest security problems and one of the biggest forms of cyber-crime on the internet that organizations face today. Recently, the unique combination of ease of entry and high rewards has led to a triple digit increase in frequency of ransomware attacks. In this month’s P&C Minute, learn more about the misconceptions and how to mitigate the growing ransomware threat.
Here Today…Gone Tomorrow?
The number of employees working remotely has significantly increased. And, as credit unions plan to implement changes to business models, the plans may include an even larger portion of the workforce being remote. With these remote work arrangements, credit unions are focused on helping staff set up home offices including the relocation of credit union property and technology from branch locations. While it is critical to follow asset management best practices, it is important to understand how this property fits into your protection.
Learn How to Minimize Your Risks as We Return to Work
With changes in the workplace, employers must exercise caution with new policies, procedures and workplace arrangements as offices reopen. Unfortunately, workplace claims are more than likely going to surface. As an employer, it is critical to be prepared, know what the risks are and how to reduce them. Learn more here:
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This resource is for informational purposes only. It does not constitute legal advice. Please consult your legal advisors regarding this or any other legal issues relating to your credit union. Any examples provided have been simplified to give you an overview of the importance of selecting appropriate coverage limits, insuring-to-value, and implementing loss prevention techniques. CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Insurance products offered to financial institutions and their affiliates are underwritten by CUMIS Insurance Society, Inc. or CUMIS Specialty Insurance Company, members of the CUNA Mutual Group.