Bank Insurance Audits
I run independent insurance audits for community banks and credit unions.
Cyber, D&O, and fidelity bond coverage tested against real loss scenarios — not a broker scorecard.
Five Banks. Five Carriers. Same Coverage Gaps.
Wire fraud: nobody pays.
Coverage topped out at $500K. Another bond had a 50% co-payment clause.
D&O excludes cyber.
The board's defense shares the same limit with forensics and notification.
Vendor goes down. No coverage.
One bank had no vendor outage coverage, others had sublimits too low for their exposure.
Every bank I audited had material gaps. Individually, the policies were fine, but nobody had read them together.
What Does a Risk Intelligence Report Include?
- Forensic Risk Scorecard
- One-page summary across seven risk categories. Designed for board review and examination.
- Policy Interaction Map
- Built from your policies with dollar amounts. Shows where carriers point at each other and where the bank holds the loss.
- Policy Deep Dives
- Each policy tested against real incident scenarios, down to the exclusions and conditions that determine whether a claim gets paid.
- Implementation Roadmap
- Specific fixes ranked by exposure, with the language to request at renewal.
Coverage Gaps From Recent Bank Audits
Gap: Every D&O I reviewed carries a cyber exclusion. A breach that triggers a regulatory investigation takes the D&O out of the picture. Which wording you have is a question nobody asks until the claim.
Impact: The board's defense falls entirely to the cyber policy, sharing one limit with forensics and notification.
Gap: Dependent business interruption sublimits ranged from zero to $1M. A multi-day core processor outage would exceed the sublimit before recovery begins.
Impact: Potentially seven figures of uninsured exposure. Nobody had tested the limit against actual vendor dependence.
A Claim Will Test Your Coverage
A Risk Intelligence Report tests it now. Flat fee. No hourly billing. No broker of record letter required.
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