Recent news and reports continue to emphasize the significant increase in foreclosure filings and repossessed properties.

Each year in the United States, Americans across the southern and eastern coastal regions brace for the hurricane season. Hurricanes and tropical storms wreak havoc on the country, causing millions of dollars in damage annually. While you can’t prevent the storms from striking, you can prepare for storms and attempt to help minimize the damage to your business.

Know your customer. Likely most everyone in banking has repeated this mantra time and time again. In today’s digital age of banking, it may seem impossible to truly know the customer, but it’s becoming as important as ever. Wire transfer fraud is an increasing trend in financial institutions and may continue to grow in the coming years. When hundreds of thousands of dollars can be transferred with just the click of the button, knowing your customer can help banks to be on the lookout for signs that may alert the institution to a potential fraud attempt.

After the recent economic downturn, the rate in which both residential and commercial properties are foreclosed accelerated. Recently, the focus has shifted from high residential foreclosures to a higher percentage of commercial retail spaces, office complexes, commercial housing and others. Foreclosed properties represent a unique challenge for financial institutions, many of which have never managed this aspect of their portfolios previously. A property that is idle—one that is not being used or has been shut down—is subject to an increased potential for vandalism, fire, water damage and break-ins.

Often, the worst earthquake-related injuries happen when people are struck by falling debris. Moving around, trying to exit buildings and general panic could lead to a higher likelihood of injury. Remaining calm and following some simple guidelines can help reduce the potential for injury from these unpredictable events.

Holiday parties are a great chance for employees and other guests to come together, reflect on the year’s accomplishments and bond as a team. The primary goal of any party is for guests to enjoy themselves, but careful planning is required to create an environment that ensures safety as well as fun. Due to their infrequent nature, the liability risks of company-sponsored parties are often overlooked.

With each passing season, community banks face a new list of weather related hazards for which to prepare. The autumn brings rain and slippery leaves, winter blows through with ice and snow, and spring and summer spawn potentially dangerous thunderstorms. Many banks may plan for the wind, rain and tornadoes that can come along with the warm weather, but it is hail that tops wind and rain damage as the costliest product of a thunderstorm. In the United States alone, hail causes over one billion dollars in damage annually to vehicles, roofs, landscaping and crops.

A Russian hacker was recently charged by US authorities with creating GameOver Zeus, a botnet based on code from the Zeus family of Trojans. These malicious programs are designed to steal a company’s banking credentials and are responsible for losses of more than $100 million worldwide since 2011.

Financial Services is a broad industry category, but like all OneBeacon specialties, this business reflects a specific niche we know well, namely community banks.

Some of the costliest insurance risks associated with operating a community bank include robbery, the threat of employees embezzling money and fire damage to the facility. However, one of the largest –and least expected – liabilities faced by banks today is right beneath your toes: the open, spacious lobbies with polished stone and tile floors that leave bank patrons especially vulnerable to slips and falls.