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Insurance 101 for Bankers
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When: Tuesday, December 5, 2017
11:00 AM
Contact: Mike Bintner

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For nearly 30 years, Bankers Insurance Agency (BIA) has
been providing insurance risk management to banks.
Insuring well over 250 banks across the Midwest and
Southwest, BIA has seen most every claim a bank may
have. Fortunately, the majority of claims are covered under
the bank’s insurance program policies. However, there are
times when a claim a bank thinks should be covered, is
For example, why would a check with a forged signature
not be covered under the bank’s Financial Institution Bond?
Or, if I followed all the rules for Fraudulent Wire Transfers,
why wasn’t my claimed covered when I suffered a
$200,000 loss? Why was our building only partially
covered when we experienced a significant fire in our
building? I think our claim should be covered. We have
coverage for Errors and Omissions … don’t we?
In our Lunch & Learn series, BIA will present topics and
discussions that will greatly enhance your understanding of
which policies cover which exposures and why they sometimes
do not.


We will begin our series with the following topics covered
from a very high level. In future Lunch & Learn programs,
we will pay closer attention to various policies, diving
deeper into policy coverages, definitions, conditions and
exclusions. Certain policy language can either provide or
take away coverage for your bank.



• Background of bank insurance policies
• What’s the difference between a Claims Made and an
Occurrence Policy?
• Brief overview of the Financial Institution Bond (FIB)*
• What is covered in the FIB
• Computers and how they are covered
• Corporate Account Takeovers — watch out!
• Directors and Officers Liability (D&O)*
• What is a D&O “Tail” and when do I need one?
• Cyber Liability/Mitigation Insurance*
• What losses are banks seeing? What do they need to be
worried about?
• How much coverage does my bank need?
*Indicates future standalone Lunch & Learn topic


Bank CEOs, presidents, risk managers, CFOs, cashiers or
any bank officer who handles the bank’s insurance. We do
not discuss health insurance in these Lunch & Learns so HR
will probably not be needed.
You may wish to bring your Financial Institution Bond,
Directors & Officers and cyber declaration pages (not the
full policies) so that you can see if your bank has sufficient
Proudly endorsed by the Texas, Oklahoma
and Colorado Bankers Association



Brien O'Connor, CIC Vice President Bankers Insurance Agency

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