Safe Deposit Disasters Spark Lawsuits
(Liability Issues Presentation)
Improve Your System:
The events that followed 9-11, Hurricanes Katrina, Rita and Andrew, damaging tornados, fires, floods and many other nationwide disasters, have significantly impacted our safe deposit industry. Following these disasters, along with many defective plumbing problems, numerous financial institutions have been confronted with some very difficult challenges, decisions and significant lawsuits.
Did you inherit the safe deposit area and then start wondering what liability might exist? Historically, this responsibility has been routinely passed from employee to employee with very little attention given to existing procedures or documentation. Unfortunately, only after a disaster or lawsuit occurs does management turn it’s attention to this area.
Whether you have 50 boxes or 5,000, this presentation provides a realistic and well-organized method of auditing your procedures before a catastrophe occurs. Your speaker knows first hand what to look for; from the most common errors to the not so common, but potentially costly mistakes. This presentation will help you review your own internal procedures.
What You Will Learn:
This program answers many thought provoking questions and will address your concerns regarding the following issues:
Why did a tornado destroy an entire town but did not harm the safe deposit vault?
What 15 steps must be followed when hurricanes fill your vault with sewer water?
Why are many flooded safe deposit box disasters caused by defective plumbing?
How can proper vault door closing procedures help you avoid overnight guests?
How can FDIC or NCUA signs, logos or brochures create safe deposit liability?
How can offering “Self Service” boxes get you sued for millions of dollars?
Why should all renters be provided with “No Insurance” disclosure forms?
Why did 1,300 box renters file a multi-million dollar safe deposit lawsuit?
What ten questions will always be asked in any safe deposit lawsuit?
How should employees be trained to answer consumer’s questions?
Why must phrases like “waterproof or fireproof” vault be avoided?
Would your part-time attendant make a good courtroom witness?
Who Should Attend:
This informative program will benefit safe deposit supervisors, vault attendants, compliance officers, auditors, security officers and your in-house legal counsel.