What You'll Learn
Gain a better understanding of safe deposit box regulatory compliance and how to successfully navigate unique risks and challenges.
This presentation is beneficial for all bank personnel and attorneys representing banks. It will provide an insight to understanding the relationship between a customer and the bank; the impact of that relationship; the duties of each party to the contract; and will provide a guideline as to what to do if there is a safe deposit box loss as the result of a criminal event, a catastrophic event, foreclosure on a safe deposit box, mysterious disappearance and unclaimed property. Understanding the relationship, the duties of each party to the relationship and the risk management in the event something unexpected occurs is vital for anyone associated with a bank including their branch personnel, lawyers, auditors and officers.
Agenda
The Contract
- A Bailment?
- Landlord/Tenant or Lessor/Lessee?
- Legal Liability to Customers
- Allowable Items in Safe Deposit Box - Practical Controls
- Insurance
- The Banks Insurance
- The Customer's Insurance
- Break-Open Procedures
- What Circumstances?
- Procedures to Follow
Loss Prevention
- Security
- Alarm System
- Vault
- Education and Training
Risk Management, Investigation, Claim Resolution
- Perils That Cause Safe Deposit Losses
- Insurance Coverage and Response
- Investigation
- Claim and Settlement Process
About the Author:
Goldberg Segalla LLP
- Partner with Goldberg Segalla LLP
- Concentrates practice on civil and commercial litigation, insurance coverage analysis, and insurance coverage litigation
- Significant experience in all areas of financial institution coverage investigations and litigation involving fraud, social engineering, employee dishonesty, directors and officers liability, safe deposit box loss, embezzlement, Ponzi schemes, check kiting, ERISA fraud, and mortgage fraud matters
- Extensive experience includes conducting and supervising the investigation and coverage analysis of catastrophic safe deposit box losses for underwriters of major financial institutions resulting from a rash of burglaries in the New York City area and across the country, the destruction of The World Trade Center following the terrorist attack of September 11, the devastation of Hurricane Katrina, and Superstorm Sandy
- Received the highest rating with Martindale-Hubbell Law Directory
- Can be contacted at joliva@goldbergsegalla.com or 646-292-8734
You Might Also Like
On-Demand Course
Account Officer Training on ACH/RDC Credit and Transactional Underwriting, Setting Exposure Limits and Performing Periodic Reviews
On-Demand Course
Many financial institutions struggle with setting appropriate exposure limits for ACH and RDC clients. This course explores NACHA-defined exposure, effective calculation methods, and best practices for setting limits. Attendees will also learn how to handle temporary over-limits and permanent lim...
Instructor: Terri Sands
299.00
Order Today
Role: Branch Operations
Credits: 1.2 AAP Credits
299.00
Order Today
On-Demand Course
10 Ways to Design, Implement, and Train on Customer Experience
On-Demand Course
You know that customer experience is critical to enlarging relationships and creating brand advocacy with your customers. And, you know that your frontline are the ones that have the interactions that give your customers that exceptional experience. The problem is supporting your frontline in lea...
Instructor: Lisa Beck Schuck
299.00
Order Today
Role: Branch Operations
299.00
Order Today
On-Demand Course
Garnishments, Subpoenas, Levies, and Law Enforcement Requests
On-Demand Course
Federal law requires banks to periodically reassess their garnishment procedures. Financial institutions have a responsibility to determine where funds originated and if those funds are exempt from garnishment or levy. Customer-facing and back-office staff frequently receive garnishments, subpoen...
Instructor: Kelly Rozier
299.00
Order Today
Role: Branch Operations
299.00
Order Today
On-Demand Course
Banker's Guide to Stablecoins
On-Demand Course
Stablecoins are no longer just a crypto trend — they’re becoming a serious tool for banks. But how do you separate hype from legitimate use cases? And how do you manage the regulatory and operational risks that come with it? Join the Payments Professor for this highly anticipated 90-minute webina...
Instructor: Kevin Olsen
299.00
Order Today
Role: Branch Operations
Credits: This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
299.00
Order Today