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.
Learning Objectives
- You will be able to review the contract.
- You will be able to discuss loss prevention.
- You will be able to explain claim resolution.
- You will be able to identify risk management.
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
Speakers
Joseph A. Oliva,
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
Who Should Attend
This live webinar is designed for attorneys, presidents, vice presidents, loan officers, loan department personnel, branch managers, credit and collections managers, controllers, accountants, and auditors.
