Your bank audits its financials every year. It audits its IT controls. It audits its vendor compliance. It probably runs a penetration test and may have a SOC 2 report.
Has anyone ever audited the insurance program that is supposed to pay when those controls fail?
Most banks cannot answer that question. The broker handles the renewal. The bank reviews a summary page showing limits and premiums. Nobody reads the full policy wording, and nobody tests whether the policies that matter work together when a cyber claim hits.
That is what a Risk Intelligence Report does.
What the Report Is (and What It Isn’t)
A Risk Intelligence Report is an analysis of your insurance policies against realistic claim scenarios. I read the full policy forms, endorsements, and amendments, then test them against the incidents community banks are most likely to face: data breaches, ransomware, wire fraud, vendor outages, and board liability claims.
This is not a coverage checklist, or a broker’s renewal summary showing limits and premiums. It is an independent assessment of whether the coverage you purchased will respond when you need it.
I test the three policies together because that is how claims work. For example, for a wire fraud loss, the cyber policy typically excludes this and points to the bond. The bond responds but might have sublimits, co-payments and strict verification conditions reducing the payout. The only way to see this dynamic is to read all the policies side by side.
What the Report Covers
A Risk Intelligence Report covers these seven areas.
The Policy Interaction Map
The centerpiece of the report is the Policy Interaction Map. It takes common incident types - data breach, ransomware, wire fraud, vendor outage, and board liability - and tests each one against the policies.
The result is a table that shows for each incident, which policy responds and which excludes. It is the clearest way to see the gaps that exist between the policies.
Most coverage gaps are not inside a single policy. They live in the seams between the policies that were written by different teams and for different risks. Nobody tested whether they work together. The interaction map does that test.
You can see a sample interaction map on the community bank insurance page.
Who Can Benefit from this Report?
The report is designed for four audiences.
Common Findings
In the banks I have reviewed, I often find these coverage gaps: social engineering sublimits that cap wire fraud recovery at a fraction of the loss, vendor coverage that does not match the bank’s dependency on its core banking platform, and D&O cyber exclusions that eliminate board protection after a breach.
Where To Start
If you want your insurance program audited, here is how it goes: Send me your policy documents. I review them against realistic claim scenarios and deliver the report with a walkthrough call. No broker of record letter and no commitment to move your insurance.
