Recent safe deposit vault burglaries, devastating fires, tropical storms, hurricanes, tornadoes, raging floods and many other nationwide disasters have significantly impacted our safe deposit industry. Following these tragic events, financial institutions have been confronted with some very difficult challenges, decisions and very significant lawsuits.
Did you inherit the safe deposit area and then start wondering what liability might exist? Unfortunately, only after a burglary, disaster or lawsuit occurs does management turn its attention to this area.
Whether you have 50 boxes or 5,000, this presentation provides a realistic and well-organized method of reviewing and auditing your procedures before a catastrophe occurs. Your speaker knows first hand what to look for; from the most common errors to the not so common, but potentially costly mistakes.
What You Will Learn
- How could $300 million in box contents disappear during a safe deposit vault burglary?
- What happened to all the safe deposit boxes after fire totaled four branches recently?
- What 15 steps must be taken when a flood fills your vault with contaminated water?
- Do you have a written disaster recovery plan to handle fire and flood disasters?
- Why did 1,300 box renters file a multi-million dollar class action lawsuit after a fire?
- Why are many flooded safe deposit box disasters caused by defective plumbing?
- How can proper vault door closing procedures help you avoid overnight guests?
- How can FDIC & NCUA signs, logos or brochures create liability?
- Why should renters be provided with “No Insurance” disclosure forms?
- Why must phrases like “waterproof or fireproof” vault be avoided?
- Would your part-time attendant make a good courtroom witness?
- Why are self-service box renters now suing for millions?
Who Should Attend?
This informative program will benefit security officers, safe deposit supervisors, vault attendants, compliance officers, auditors, facility managers and your in-house legal counsel.
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