Whether it be on the sale or purchase side of the loan participation transaction,
there is an ever-increasing incident of lender liability allegations involving one
financial institution with another. Even if no wrong-doing can be proven, it
must be defended which can certainly be expensive.

Every community bank should assess their FI Bond Agreement E Securities
and Signature Guarantees. Covers loss resulting in acquiring, selling, delivering,
giving value, extending credit or assuming liability on the faith of a certificated

According to a recent survey by LIMRA, “only 44% of households have an individual life insurance policy, and 30% have no individual or employer-provided life insurance”. Term Life insurance is a very important part of anyone’s insurance portfolio. There are many ways to calculate the amount of coverage you may need. Generally the average person will need five to ten times your annual income. At Nicoud Insurance we believe that everyone has different needs for life insurance.

Today's workforce requires more leadership and engagement than ever before. Over the past several "recession" years many companies simply took their human capital for granted. Rather than standing up and effectively communicating goals and challenges with their people, many took the stance that no news was better than bad news. Unfortunately the lack of transparency and communication caused high levels of disengagement and left employees unsure of their roles, not to mention the lack of clarity regarding their company's goals and direction.

I often find when talking with clients they have heard about buying an “umbrella”, but usually are not really sure how it works, or if they should. Here is some key information when considering an “umbrella” or “excess liability” policy that might make your decision easier.

I find a lot of our clients don’t understand how their health insurance policy works so today I would like to shed some light on what it all means.

Most health plans in today’s market are PPO plans. A PPO plan means that you can go anywhere in your insurance companies physician network without a referral. It used to be that you needed to name a primary care physician and that doctor would have to refer you to see a specialist, but now you are able to call and make an appointment with any specialist in the network that you wish.

The National Council on Compensation Insurance (NCCI) has filed a “split point” change in its workers-compensation experience rating plan with state insurance departments that could have a significant impact on your business. This rating change could increase or decrease your experience rating mod as it is implemented over the next three years.
Note: Take a look at NCCI’s “The ABC’s of Experience Rating” which explains in not-too- technical terms the premise for the “split point”: http://www.ncci.com/media/pdf/abc_Exp_Rating.pdf

The Heartford and their Jr. Marshales Program offer great tips on Fire Safety. Check out their article below on Causes and Prevention. 

A home contains many fire hazards, including some of which you might not be aware.

Most fires do not start spontaneously, but are the result of peoples' unintentional acts or oversights. Certain behaviors or activities you perform each day may increase the chances that a fire could start in your home.

Do yourself a favor and take the time to compile an inventory of your home now, and it will save you precious time and frustration later.

A personal property inventory helps to:

Ensure you have the coverage you need

Several times a year I like to stick my toe into the claims pool and check the temperature.  I contact insurance carriers that specialize in community banks to determine the types of claims that are being filed by their insureds.  The consensus is that Lender Liability suits are on the rise. When a mortgage defaults, the lenders are filing foreclosure actions against the borrowers.  The borrowers are no longer accepting the foreclosure as a consequence of their inability to pay.  They now file counterclaims stating that the lender took advantage of the unsophisticated bor

With banking being one of the most regulated industries, you have to ask….

“Are we covered for that, or not?”

 Having insufficient insurance coverage is a risk you cannot afford to take!