Company offers policy endorsement reducing risk from fraudulent commercial transactions.
Tuesday, December 11, 2012
The Chubb Group of Insurance Companies is helping to protect community banks from a more than three-fold increase in fraudulent online commercial transactions. An endorsement to the ForeFront Security by Chubb Community Bank Bond expands the definition of fraudulent communications. Fidelity bonds, which help indemnify banks against losses resulting from a broad range of dishonest and fraudulent acts, typically require a bank to authenticate customer fund transfer instructions via a telephone callback. Chubb's new Cyber Fraud Endorsement also allows a bank to authentic commercial customer instructions through text messaging, email or other methods. According to the American Bankers Association, the number of account takeover attempts …
Experts could help explain benefits for which homeowners may qualify.
Navigating homeowner insurance policies isn't always easy, and in the coming weeks, Warren residents may have a chance to consult with experts on what benefits they may be due from the storms in August and October. According to Townshop Committeeman Vic Sordillo, the township Office of Emergency Management is working on organizing a workshop for homeowners to discuss what provisions their insurance policies may offer. The session is planned for sometime in the first quarter of 2012. "There's a tremendous demand for that," Sordillo said at the Dec. 8 Township Committee meeting. "The standard homeowner's policy is very misunderstood." Sordillo, who works for Warren-based Chubb Insurance, noted the township "has residents with expertise in …