Berkley Financial Specialists News

Equipment Breakdown is a Significant Exposure for Financial Institutions Due to Summer Weather Financial Institutions have several types of mechanical and electrical equipment that are subject to failure especially during severe summer weather. We have tools and recommendations to help control breakdowns and the associated losses. HVAC is Key to FI Office and Branch Comfort […]

The post Mitigating Summer Weather Risks appeared first on Berkley FinSecure.

The final part of our fraud series reviews the most recent Marquet Report on Embezzlement which closely examines domestic fraud cases. The recently released report by Marquet International analyzes US fraud and embezzlement cases that resulted in losses of $100K or more in 2013. There were 554 such cases in 2013, a new (unfortunate) record.  As […]

The post Fraud: Who is the next target? appeared first on Berkley FinSecure.

The 2013 Marquet Report On Embezzlement, issued in December  2014, analyzes US fraud and embezzlement cases resulting in losses of $100K or more. Listed below from the report are specific preventive strategies and tactics to address the problem of employee theft; the complete Marquet Report can be accessed here (site registration required). Do not allow a single individual […]

The post Actions You Can Take to Help Prevent Fraud appeared first on Berkley FinSecure.

Fraud…it’s insidious and pervasive. We have recently reviewed valuable reports that help provide you and your financial institution clients with a closer look at the who, what, when, where and cost of fraud.   Part One of this two-part series summarizes some of the highlights of the ACFE fraud report below. Please share this with […]

The post Fraud: A $3.7 Trillion Global Problem appeared first on Berkley FinSecure.

On March 25, 2015, the FDIC released its March 2015 Professional Liability Update.  Of note, from January 2009 through March 25, 2015, the FDIC has authorized suits in connection with 149 failed institutions against 1195 individuals for D&O liability. This includes 106 filed D&O lawsuits naming 800 former directors and officers. The FDIC also has […]

The post FDIC Sued 1195 Individuals Since 2009 for D&O Liability appeared first on Berkley FinSecure.

Due to a water main break and subsequent electrical and telephone service disruption, Berkley FinSecure’s Towson, MD office is currently closed. Please direct all inquiries to Tonya Lusk (443-425-5395).

The post IMPORTANT NOTICE – Towson, MD Office Closure – March 4, 2015 appeared first on Berkley FinSecure.

The FDIC issued a press release today on the results of the FDIC Insured Institutions for 4th Quarter 2014. Some highlights of the press release related specifically to Community Banks include: Community banks earned $4.8 billion during the quarter and net income of $4.8 billion was up $1.0 billion (27.7 percent) from a year earlier. […]

The post FDIC-Insured Community Bank Earnings Up 28% in Q4 of 2014 appeared first on Berkley FinSecure.

We’ve been reading some interesting articles lately about cyber security and protecting information.  Not only are our businesses and organizations susceptible to attack but, of course, we each have a stake in protecting our own personal information as well. The following articles might help you and your financial institution clients start or continue a conversation […]

The post Cyber Security – a Critical Issue for All Financial Institutions appeared first on Berkley FinSecure.

Several Berkley FinSecure executives will be attending the PLUS (Professional Underwriting Liability Society) annual conference in Las Vegas, November 5-7, 2014 at Caesar’s Palace Hotel. Attending the event for Berkley FinSecure will be Mike Dandini, President; Jon Martin, Vice President – Sales and Distribution; Barbara Ewing, Vice President & Chief Underwriting Officer – Fidelity and […]

The post Berkley FinSecure Executives Attend PLUS Conference appeared first on Berkley FinSecure.