Pub. 7 2018 Issue 8

OneBeacon Financial Services® A Member of OneBeacon Insurance Group® Top Five “Safety Hot Spots” to Check at Your Bank B Y C RAIG M. C OLLINS – P RESIDENT , F INANCIAL S ERVICES There’s no question that you face insurance risks that can’t often be seen. Cyber breaches, ransomware and employee dishonesty remain top concerns. However, some of the biggest, and often most avoidable, safety and security risks can be in plain sight. This article highlights the most frequent areas of concern that are discovered during a bank’s insurance risk management review. In addition, it addresses some of the maintenance and corrections that can be completed to help prevent accidents from occurring. 1. Storage Areas  Electrical panels should always remain unobstructed and covered. Check them periodically to ensure they are cool to the touch. Any type of combustible materials (paper, furniture, holiday decorations) that is stored at your bank should be kept at least three feet away from electrical panels, hot water heaters and/or boilers. Any highly flammable material such as paint, cleaning supplies or solvents should be separated from any other items in storage and clearly marked as flammable. 2. Interior Areas  Slips, trips and falls are among the top causes for liability and workers compensation claims in financial institutions. Floors should be checked regularly to make sure they are well-maintained and clean. Signage for wet or slippery floors should be placed in the affected area quickly to help avoid injuries.  In preparation for a power outage or emergency, be sure that all exits are properly marked, remain lit and are clear of any debris or obstacles.  Ensure walkways, stairs and handrails are sturdy and in good repair. 3. Fire Protection  Confirm that you have the proper number of fire extinguishers for the size of your building and check that they are properly mounted, easily- accessible and are serviced every year. Bank employees should know where they are located and how to use them properly.