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New & emerging risks

We're happy to present Business Protection News (formerly known as P&C Minute). Every other month, the Corporate Property & Casualty Consultant team will briefly tell you about new and emerging risks, how to use your policy, and much more.

Technology-based programs to manage and streamline day to day requests

January 2024

We strive to provide your credit union with technology-based programs to manage and streamline your day to day requests which helps to stay on top of demanding verification needs. You can submit Certificate of Insurance requests, add, or change locations, file a claim and so much more online! Smart Forms, more formally known as Online Interactive Forms, is one great feature we offer at TruStage.

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In case you missed it

Here are a few resources to provide you with actionable insight and proven risk mitigation guidance to help you stay on top of emerging risks.

Risk management resources:

Additional resources to help you manage the complex array of ever-changing risks.

  • Bring your own device best practices & policy overview — Employees often use their own personal devices for work – including downloading work apps, taking calls, and performing administrative tasks required for their job. Mobile devices offer convenience and flexibility for the modern workforce; however, you must balance the benefits and risks. Read resource2
  • On-demand webinar: Active Assailant Incidents — Preparing for an active assailant incident is a lot like trying to teach instinct. Listen in as TruStage Risk Consultants and ALICE-certified trainers, Michael Petrone and Bob Bouvier, share tips to help you build situational awareness that will enhance your employees’ ability to make more confident decisions when they are needed the most. Presentation | Recording

RISK Alerts:

Recent alerts issued about risks impacting credit unions across the country.

  • Bring your own device approach delivers advantages and challenges — Bring your own device (BYOD) can save your organization money and even improve employee morale; however, it can also bring a variety of problems. Some employees are using their own devices for work whether you approve it or not. Be sure you have a sensible BYOD policy in place. Read alert2
  • The new year is a good time to revisit and review information and cyber security — Cybersecurity risks remain a significant, persistent, and ever-evolving threat to the financial industry. Risks associated with ransomware, fraudulent instruction, data breaches, artificial intelligence, third- and fourth-party/vendor security issues among others continue to evolve and transform. The new year is a good time to revisit your cybersecurity program to ensure security remains a top priority. Read alert2
  • Expanding policies, procedures & training for active assailant incidents — You’re either prepared or unprepared and that’s something that needs to be prioritized. Violence prevention and response efforts is not only the right thing to do; it is also required under Section 5(a) (1) the General Duty Clause of the Occupational Safety and Health Act (OSHA) Act of 1970. Read alert2
  • Deepfake imposter scams introduce new fraud risks — Combining generative AI’s abilities with visual deepfake and voice recreation technologies allows fraudsters to make convincing deepfakes that look and/or sound like someone an individual or employee knows. There are significant risks for financial institutions due to the heightened level of sophistication to these fraud attempts. Read alert2

Risk management resources to help mitigate risks

September 2023

There has been a significant increase in fraudulent checks clearing member accounts. This is due in large part to the growing stolen mail problem that is impacting several states.1 Learn more about risk management resources to help mitigate these risks.

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