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Do you wish to reserve the book?
services update
by
Clancy, Dan
in
Banking industry
/ Banks
/ Community banks
/ Financial institutions
/ Independent banks
/ Insurance coverage
/ Risk management
2004
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Do you wish to request the book?
services update
by
Clancy, Dan
in
Banking industry
/ Banks
/ Community banks
/ Financial institutions
/ Independent banks
/ Insurance coverage
/ Risk management
2004
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Trade Publication Article
services update
2004
Request Book From Autostore
and Choose the Collection Method
Overview
With insurance premiums rising and community banks exploring a variety of nontraditional services and roles, it is important for financial institutions to perform regular and periodic reviews of their insurance coverage to ensure that they are not exposed to unnecessary risk or overpay for redundant coverage. In general, a community bank should review its insurance coverage every three to five years, says Jim DeRoberts of the Columbus, OH-based insurance agency Dick DeRoberts and Co. Banks should also remember that as they diversify their product lines, they may need to reassess their insurance coverage. In general, insurance costs are on the rise. In the wake of the Sep 11, 2001, terrorist attacks, the bursting stock market bubble and the wave of corporate accounting scandals, insurance pricing has been creeping up for everyone -- banks included. But the good news is banks represent relatively low-risk insurance carriers, and therefore costs have moved up more slowly.
Publisher
Independent Community Bankers of America
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