Security, Disasters and Self-Service Boxes
How to Reduce Your Safe Deposit Box Liability and Improve Your System:
Recent safe deposit vault burglaries, devastating fires, Tropical Storms Sandy and Allison, Hurricanes Ike, Katrina, Rita, Wilma and Andrew and damaging 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? Historically, this responsibility has been routinely passed from employee to employee with very little attention given to existing procedures or documentation. 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. This presentation will help you review your own internal procedures.
What You Will Learn:
This program answers many thought provoking questions and will address your concerns regarding the following issues:
- How could $300 million in box contents disappear during a safe deposit vault burglary?
- What details about recent safe deposit burglaries have TV reporters covered recently
- 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 now have written disaster recovery plans to handle fire and flood disasters?
- Why did 1,300 box renters file a multi-million dollar safe deposit 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 or NCUA signs, logos or brochures create safe deposit liability?
- Why should renters be provided with “No Insurance” disclosure forms?
- What ten questions will always be asked in any safe deposit lawsuit?
- How should employees be trained to answer consumer’s questions?
- 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?
Security officers, safe deposit supervisors, vault attendants, compliance officers, auditors, and your in-house legal counsel
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